$12b e-commerce suffers as Twitter ban costs N7.5 billion in three days — Nigeria — The Guardian Nigeria News – Nigeria and World News

9


[FILES] Buhari. Photo/TWITTER/NIGERIAGOV

• FG in talks with China, considers Internet firewall to block VPN access
• A4AI Nigeria says situation creates $1.2b loss for MSMEs
• Raises questions of our readiness for investors, says ALTON

The suspension of Twitter, a leading micro-blogging platform, has begun to take its toll on struggling Nigeria’s economy, leading to a loss of N7.5 billion in the past three days.

Nigeria’s decision to suspend Twitter, at first indefinitely but later temporarily, could backfire for the government and cost the country economically in terms of new investment into its technology sector. The ban may threaten Nigeria’s status as one of the best-performing African countries in attracting investment for technology start-up businesses.

According to NetBlocks, a watchdog organisation that monitors cyber-security and governance of the Internet, each hour of the social media gagging costs Nigeria about $250,000 (N102.5 million), bringing the daily…



Source: Guardian Newspaper