Report: Over N2 billion lost to Twitter ban in past 24 hours
An estimated N2 billion naira has been lost to the ban on Twitter by the Nigerian government, NetBlocks, an international Internet monitor, says. NetBlocks Cost of Shutdown Tool (COST) is a data-driven online service that enables anyone to quickly and easily produce rough estimates of the economic cost of Internet disruptions. The digital rights advocacy platform estimates the economic impact of an internet disruption, mobile data blackout or app restriction using indicators from the World Bank, International Telecommunication Union (ITU), Eurostat amongst others. According to its analysis, an estimated N2.1 billion naira is lost when Nigeria shuts down Twitter for 24 hours. NetBlock says it uses the Brookings Institution’s method which relies on development indicators and Naira/dollar exchange rate of November 2019. However, it did not specify whether this estimated loss is from advertisement revenue, Twitter marketing and sales of products, traffic generated by Twitter or a drop in