It has been revealed that Nigeria has so far lost over N2 billion following the federal government's decisioin to ban Twitter.
A report by NetBlocks shared by Sahara Reporters revealed that the loss is on a daily basis.
NetBlocks put the total cost impact of the shutdown at $6, 014, 390 and it naira equivalent at N2, 177, 089,051.
The NetBlocks Cost of Shutdown Tool (Cost) estimates the economic impact of an Internet disruption, mobile data blackout or app restriction using indicators from the World Bank, ITU, Eurostat and US. Census.
Nigeria's unemployment rate increased to the second highest on a global list of countries monitored by Bloomberg recently.
The jobless rate in Nigeria rose to 33.3% in the three months through December, according to a report published by the National Bureau of Statistics on March 15.
It went up from 27.1% in the second quarter of 2020.
Experts have noted that a good number of Nigeria's youth population earn their livelihood through Twitter and that such incomes will be affected by ban. will be lost no thanks to the ban.
The Nigerian Government on Friday suspended, indefinitely, the operations of the microblogging and social networking service, Twitter, in Nigeria.
Therefore, Nigeria has lost over N4 billion since it banned Twitter on Friday.
Minister of Information and Culture, Lai Mohammed, announced the suspension in a statement signed by his Special Assistant Segun Adeyemi, citing the “persistent use of the platform for activities that are capable of undermining Nigeria’s corporate existence”.
The Minister said the Federal Government had also directed the National Broadcasting Commission (NBC) to immediately commence the process of licensing all OTT and social media operations in Nigeria.
The development comes after Twitter deleted President Muhammadu Buhari’s tweet where he threatened to treat Nigerians “misbehaving” in “the language they understand”.
Buhari had in a tweet on Tuesday stated that his government will get “harder” on those hell-bent on destroying the country.
He said those wanting to destroy his government will receive the shock of their lives as his administration will do everything possible to ensure they fail.
The president said the sponsors and orchestrators of insecurity in the country are doing so because they want his administration to fail.
His tweet had read, ”I receive daily security reports on the attacks on critical national infrastructure, and it is very clear that those behind them want this administration to fail. Whoever wants the destruction of the system will soon have the shock of their lives. We’ve given them enough time.
“I received a briefing today from the Chairman of the Independent National Electoral Commission (INEC), on the series of attacks on their facilities nationwide. These attacks are totally unacceptable, and we will not allow those behind them to achieve their evil objectives.
"I receive daily security reports on the attacks on critical national infrastructure, and it is very clear that those behind them want this administration to fail. Whoever wants the destruction of the system will soon have the shock of their lives. We've given them enough time.
“I have assured INEC that we will make available to them everything they need to operate efficiently, so that no one will say we don’t want to go, or that we want a third term. There will be no excuse for failure. We will meet all of INEC’s demands.
“In the area of security, we have changed the Service Chiefs and the Inspector-General, and we are demanding that they rise fully to the challenges confronting us. There must be zero tolerance for all those bent on destroying our country by promoting crime and insurrection!
“Many of those misbehaving today are too young to be aware of the destruction and loss of lives that occurred during the Nigerian Civil War. Those of us in the fields for 30 months, who went through the war, will treat them in the language they understand.”
The President's Twitter account was reported by Nigerians who understood the last part of the thread to mean a threat to kill the people of the South-East like the Nigerian government did in the Nigerian Civil War.
Many reminded Buhari of the consequences of the Nigerian Civil War which lasted from 1967 to 1970, stating that such must not be repeated.
Over 3 million Nigerians, mostly Igbo people, died during the war. Millions of people, especially children also starved to death.