Nigeria estimated to have lost over N132.8bn in two months of Twitter ban

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.

Nigeria estimated to have lost over N132.8bn in two months of Twitter ban

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

Also, Follow:

https://broommedia.com/wp-admin/edit.php?post_type=post

https://www.facebook.com/broomsnews/

Leave a Reply

Your email address will not be published. Required fields are marked *