The Lagos Chamber of Commerce & Industry (LCCI) has provided an insight on the huge losses incurred during the seven-month shutdown of twitter operation in Nigeria.

In a press statement on Friday, the Director-general of LCCI, Chinyere Almona put the total lost incurred at a whopping N10.72 trillion ($26.1billion).

The Federal government suspended the use of twitter in the country between June 5, 2021 and January 13, 2022.

Almona believed the ban was unnecessary and there were better ways it could have been handled to save the economy.

She said: “The operations of the microblogging platform were shut down on the 5th of June 2021 by the federal government due to the use of the platform for subversive purposes and criminal activities that were seen as threats to national security and social cohesion.

“It has become imperative that nations negotiate the achievement of balance in the use of digital platforms for mutual benefits between government regulators and operators.”

However, she appreciated the lessons learned during the negotiations between the technical committee on Nigeria-Twitter Engagement with Twitter, while urging the government to explore these lessons in creating a realistic template for regulating digital platforms in Nigeria for maximum benefits.

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

She urged the government to create an enabling regulatory environment that supports global technology companies in achieving their potentials and are sustainably profitable, saying, “when this happens, Nigeria’s Gross Domestic Product (GDP) and revenue mobilisation will receive a boost through tax revenues from these companies.

the total lost incurred at a whopping N10.72 trillion ($26.1billion).

FreeStuffsNG:
If we 'lost' N10 trillion in 220 days, it meant Twitter must have brought into Nigeria N100 Trillion in 2200 days before it was suspended for being used by the IPOB terrorists to set the country on fire leading to colloidal loss of lives and multibillion dollars properties. So where's the N100 Trillion Twitter, that doesn't pay tax or have any office in Nigeria, brought into Nigeria in the 6 years before its suspension? Did LCCI even see how they turned out to be completely unserious? Is that the kind of data they give their member businesses

There is no way LCCI will keep churning out this kind of dubious data and any serious organisation or individual will take them serious. This claim is not only embarrassing it is way too shallow

Dialpad:
How do you people come up with these insane figures, what is the annual budget of the entire nation?


Yes a lot was lost due to the ban on Twitter, but not these figures

Amazing . Nice business idea . Great Innovation in Gh

vedaxcool:
Ipob scoundrel Cannibal is all I can say! Imagine saying N10trillion like the bastard even know what a billion naira is! Let's take the fool's claim like it is the truth, it means Twitter alone can fund the entire FG budget, yet we see Atiku beggar legions and cownu sewage pig rats and cannibal ferox all lining up to believe this load of bull crap!

Sandralight:
Wow anyway Nigeria is so freaking rich. That money is chicken change to us