LCCI Advises Buhari, Reveals Nigerian Businesses Lost Over N10trillion To Twitter Ban

The Director General Lagos Chamber of Commerce & Industry (LCCI) Chinyere Almona has called on President Muhammadu Buhari to create an enabling environment that supports global technology companies.

Almond also revealed that businesses across the nation recorded a loss of N10.72 trillion ($26.1billion) within 222 days President Muhammdu Buhari shut down Twitter operations.

She revealed this in a statement released on Friday, Jan. 14.

It stated “In business terms, the cost of the seven-month shutdown of Twitter operations in Nigeria is estimated to be N10.72 trillion (26.1billion dollars) according to Netblock’s Cost of Shutdown Tool.”

Ms Almona, while stating that Twitter is a viable tool for businesses in Nigeria, said the lifting of the suspension of Twitter operations in Nigeria was “well-received and commendable.”

“Digital platforms have become a viable tool for business operations and governance in engaging with diversified audiences and boosting digital transactions,” she noted.

“When this happens Nigeria’s Gross Domestic Product (GDP) and revenue mobilisation will receive a boost through tax revenues from these companies,” she said

“Currently, the Information and Communications Technology sector is one of the growth drivers in the economy even as we see additional activities of digital platforms adding more potential to the sector,” she added.

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