Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
News: Latest News
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 
All NewsEconomyCurrencies & ForexEconomic EventsCryptocurrenciesCybersecurityPress Releases

Twitter ban blocks Nigerian businesses

06/14/2021 | 09:42am EDT

Ogechi Egemonu says she was selling more than $1,200 worth of watches, shoes and handbags on Twitter every week.

That was until the Nigerian government suspended the social media site.

"I feel very, very distraught, I feel really, really disorganized."

Now the Lagos-based entrepreneur says she doesn't know how she will cope.

"I have been trying to build this platform. I have been trying to put my best. Be consistent they said, do this, post more. Talk to more people. I have done everything I needed to do but then I was able to do that because I had a platform."

Nigeria's government suspended Twitter on June 4, two days after the platform removed a post from President Muhammadu Buhari that threatened to punish regional separatists.

The decision has left small and medium-sized businesses reeling.

Research firm NOI Polls estimates 39.6 million Nigerians use Twitter, 20% for business advertising and 18% to look for employment opportunities.

The suspension was among complaints from people who took to the streets on Saturday (June 12), including rights activist Yaki Feirrari.

"The federal government and the rulership of Nigeria is so dumb that they have forgotten the economical value of Twitter."

Dumebi Iyeke, a research analyst with the Financial Derivatives Company, said young Nigerians - among whom there is a 45% unemployment rate - would be hit hardest.

"We are looking at a potential loss in their revenue, looking at a potential loss and then the ripple effect will be on output growth and because if the manufacturing sector is affected, businesses are affected, trade sector is affected. We are looking at a potential decline in economic growth."

Information minister Lai Mohammed last week said that all social media sites must register a local entity and get a license to operate.

He cited the complaints over lost money as proof that the suspension was working and said that other sites are still available.


© Reuters 2021
Latest news "Economy & Forex"
12:32pTunisian president calls on banks to reduce interest rates
RE
12:22pUNESCO UNITED NATIONS EDUCATIONAL SCIENTIFIC AN : IPCSD | Culture for Climate Action
PU
11:52aIndonesia's Lion Air to furlough 8,000 staff due to COVID travel restrictions
RE
11:46aU.S. Senate in rare Saturday session on $1 trln infrastructure bill
RE
11:30aTunisian president calls on banks to reduce interest rates
RE
11:02aMINISTRY OF COMMERCE AND INDUSTRY OF REPUBLIC : “Services Trade between India and the U.S will play a very important role in our ever-growing relations – Piyush Goyal”
PU
09:20aAs cases surge, Thai hospital uses containers to store bodies
RE
08:42aTVA TENNESSEE VALLEY AUTHORITY : Demolishes Coal Plant for Development and Cleaner Energy
PU
07:59aMore countries hike climate pledges, piling pressure on major emitters
RE
07:53aOlympics-Organisers seek to prevent heatstroke with AI gadget
RE
Latest news "Economy & Forex"