Nigeria have lost an estimated N2 billion to the ban on Twitter by President Muhammadu Buhari led administration, NetBlocks, an international Internet monitor, says.
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.
According to a report by Premiums Times, 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.
According to its analysis, an estimated N2.1 billion naira is lost when Nigeria shuts down Twitter for 24 hours.
NetBlock says it uses the Brookings Institution’s method which relies on development indicators and Naira/dollar exchange rate of November 2019.
Although, it did not specify whether this estimated loss is from advertisement revenue, Twitter marketing and sales of products, traffic generated by Twitter or a drop in telecommunications operators’ revenue.
However, Elombahnews had reported on Friday that the Nigerian Government, through the Minister of Information and Communication, Alhaji Lai Mohammad announced the suspension of Twitter from operating in the country.
The suspension was indefinite as the Minister of Information and Culture, Alhaji Lai Mohammed said that Nigerians were using Twitter to orchestrate activities that are injurious to the corporate existence of Nigeria.