The Nigerian economy lost N10.72 trillion to the suspension of microblogging platform, Twitter, the Lagos Chamber of Commerce and Industry stated.

The figures were disclosed in a declaration released on Friday by Chinyere Almona, Director-General, LCCI.

“In company terms, the expense of the seven-month shutdown of Twitter operations in Nigeria is approximated to be N10.72 trillion ($26.1 billion) according to Netblock’s Cost of Shutdown Tool,” Almona said.

This is a big loss to Nigeria as it represents about 63% of Nigeria’s N17.1 trillion allocated 2022.

Recall that on June 4, the Nigeriag Government announced the suspension of Twitter after the social networks platform deleted a tweet by President Muhammadu Buhari.

Telecommunication business had on June 5 blocked access to Twitter after receiving a regulation from the Nigerian Communications Commission to that result.

After 7 months of suspension, the federal government raised the suspension of Twitter’s operations in the nation.

Director-General of the National Information Technology Development Agency, Kashifu Abdullahi, revealed the lifting of the suspension in a statement.

Responding in a statement, the LCCI Director invited the suspension of the restriction as she said digital platforms have become a feasible tool for company operations and governance in engaging with a diversified audience and improving digital deals.

She stated that currently, the Information and Communications Technology sector was one of the development motorists in the economy.

“We, therefore, prompt the federal government to produce an allowing regulatory environment that supports global technology business in accomplishing their possible and are sustainably lucrative,” she stated.

According to her, improving Nigeria’s digital infrastructure from a policy point of view would enhance healthcare shipment, agric-technology, finding out, e-governance, and fintech.

Almona advised Nigeria and other countries to guarantee balanced negotiation in using digital platforms for shared benefits in between governments and operators.

She said that the negotiation became important due to the lessons learnt throughout Nigeria-Twitter concern.

She urged federal government to check out these lessons in developing a practical template for controling digital platforms in Nigeria for optimum advantages.

ToriNG