Nigeria is of the estimation to have lost N132.8bn ( approximately $366,88m) since the Twitter ban in Nigeria by the Federal Government.
The decision by President Muhammadu Buhari’s government to ban Twitter in Africa’s most populous
country in June has dealt a blow to its revenue ambitions.
The Federal Government banned Twitter in Nigeria on June 4 and the ban came into effect on June 5.
It’s been 61 days since the ban came into effect.
Despite this, Twitter posted stronger-than-expected earnings for the second quarter thanks to growing
advertising demand across all geographic regions and types of ad products.
The San Francisco-based company earned $65.6 million, or 8 cents per share, in the April-June quarter. That’s up from a loss of $1.38 billion, or $1.75 per share, a year earlier.
Twitter recorded $1.19 billion in revenue in Q2 2021, against the $683.4 million Twitter reported for
the corresponding period of Q2 2020.
However, Calculating the cost impact of the ban on the NetBlocks Cost of Shutdown Tool shows that Nigeria
has lost $366,877,817 in 61 days.
According to the tool, Nigeria loses $250,600 for every hour Twitter is banned.
The NetBlocks Cost of Shutdown Tool estimates the economic impact of internet disruption, mobile data blackout,
or app restriction in a nation using indicators from the World Bank, International Telecommunication Union,
Eurostat, and the U.S. Census.
By Taiyelolu A