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Nigeria: Twitter ban incurs $60m loss

Nigeria has incurred losses of up to $60.14m ten days after the government banned the use of Twitter on June…

Nigeria has incurred losses of up to $60.14m ten days after the government banned the use of Twitter on June 5, the head of the country’s chamber of commerce said.Fielding questions from journalists about the economic impact of the ban, the Director General of the Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture, Ayoola Olukanni, said the loss has been colossal.

“Communication is a significant part of sales and marketing in this digital age. Consequently, the Twitter ban will likely impact negatively and disrupt businesses especially Micro, Small and Medium Enterprises who rely on social media, such as Facebook, Instagram including Twitter  to conduct business” he said.

“It will therefore most likely negatively impact the IT sector of the economy which is already facing several other challenges” he added.

Meanwhile has issued a statement, inviting the Nigerian authorities for talks about resolving the issue.

“We have informed the Nigerian government that we are ready to meet for an open discussion to address mutual concerns and see the service restored. We remain advocates for the free and Open Internet everywhere” the statement said.

Since the ban on Twitter, there has been an outcry among users as its dire economic consequences began to bite almost immediately.

“Aside from gagging the social media air of businesses to survive and  thrive, it is also sending the wrong signals to would-be investors” one economist had warned.

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