A report by an international Internet monitor, NetBlocks, has revealed that there was loss of N2 billion within 24 hours after the Nigerian government ban Twitter in the country.
The report did not indicate whether the huge loss was from advertisement revenue, Twitter marketing and sales of products, traffic generated by Twitter or a drop in telecommunications operators’ revenue.
NetBlocks Cost of Shutdown Tool (COST) is a data-driven online service that enables anyone to quickly and easily produce rough estimates of the economic cost of Internet disruptions.
The digital rights advocacy platform estimates the economic impact of an internet disruption, mobile data blackout or app restriction using indicators from the World Bank, International Telecommunication Union (ITU), Eurostat amongst others.
NetBlock says it uses the Brookings Institution’s method which relies on development indicators and Naira/dollar exchange rate of November 2019.
Recalled that Lai Mohammed, the Minister for Information and Culture, had announced the ban of the social media platform and also directed the National Broadcasting Commission (NBC) to commence the process of licensing all OTT and social media operations in Nigeria.
The suspension was announced days after Twitter’s deletion of President Muhammadu Buhari’s controversial tweet about the civil war after some Nigerian users found it offensive.
While many Nigerians still access the platform through various virtual bypass, the Minister of Justice and the Attorney-General of the Federation Abubakar Malami, ordered the prosecution of Twitter users in Nigeria after its ban.
Following reaction and backlashes within the country and from international community, the presidency announced that the ban is temporary and an attempt to curb fake news.