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Nigerian businesses lost over N10 trillion to Twitter ban: LCCI

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The Lagos Chamber of Commerce & Trade (LCCI) on Friday, Jan. 14, estimated that Nigerian companies misplaced N10.72 trillion ($26.1billion) inside 222 days President Muhammdu Buhari shut down Twitter operations throughout Nigeria.

 

Chinyere Almona, the director-general of LCCI, stated in an announcement: “In enterprise phrases, the price of the seven-month shutdown of Twitter operations in Nigeria is estimated to be N10.72 trillion (26.1billion {dollars}) in accordance with Netblock’s Value of Shutdown Software.”

 

Ms Almona, whereas stating that Twitter is a viable software for companies in Nigeria, stated the lifting of the suspension of Twitter operations in Nigeria was “well-received and commendable.”

 

“Digital platforms have develop into a viable software for enterprise operations and governance in participating with diversified audiences and boosting digital transactions,” she famous.

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She additional appealed to the Buhari authorities to create an enabling setting that helps world expertise firms.

 

“When this occurs Nigeria’s Gross Home Product (GDP) and income mobilisation will obtain a lift by way of tax revenues from these firms,” she stated.

 

“At present, the Info and Communications Know-how sector is without doubt one of the development drivers within the economic system at the same time as we see extra actions of digital platforms including extra potential to the sector,” she added.

 

The Buhari authorities banned Twitter operations in Nigeria on June 5, 2021, and lifted the ban on Wednesday, Jan, 12.

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