Economy
Effect of Twitter Ban on Nigerian Economy and Mobile Data Usage
By Lead Web Praxis Media
Twitter is one of the largest messaging apps in the world. Others include Facebook, WhatsApp, LinkedIn etc.
The platform is well known for a place of acquiring knowledge, attaining information and enabling communication between people of different races and those of the same race.
The app was founded on March 21, 2006. However, due to the deletion of a tweet by the Nigerian government, the messaging app was banned to be used by her users in Nigeria on June 4, 2021.
This ban came as a shock to many people and it ignited international concerns. This is because the app has been known to be an avenue for voicing out your desire as a citizen.
In fact, prior to the ban, the account of the former President of the United State of America, Donald Trump, was deleted and nothing happened to the “bird app” in the United State of America.
This article tends to look at the consequences/effect of the Twitter ban on the Nigerian economy and mobile data usage.
Break in Communications System
The messaging app has been known to be a means of communication for different purposes including for corporation organizations. With the ban, there is a break in this communication and this greatly affects the productivity of businesses and people. Some major businesses in the country depend on the app to communicate effectively with their audiences.
In fact, the Nigerian government that banned the app usually used it as a means of communication to the masses, but with this ban, the communication channel is broken among other deleterious effects.
Even though the app can still be assessed with the Virtual Private Network (VPN), this is still not as effective as before. Moreover, some of the VPNs do not work and this greatly affects the overall efficiency of people and businesses. This subsequently has a negative effect on the economy of the country
Increase in Unemployment Rate
Even though the major purpose of the app is for communication between people, it has developed into a money-making machine for some people, most especially business owners. Most businesses depend on the app to communicate and advertise with their audience. Some have even built a high number of followers on the app.
However, with the ban, many businesses are cut off from their businesses and this greatly affects their revenue generation. This in turn affects the general outlook of the economy. In other words, the ban also adds more spices to the previous unemployment rate in the country.
Decrease in Traffic Generation for Business
Just like many other messaging apps, Twitter is also known as a traffic generation tool for businesses. This implies that businesses use it as a platform for generating leads whether organically or via paid advertisement. This greatly affects the revenue of the business as the first step in the revenue generation is lead generation. Subsequently, this has a negative effect on the economic condition of the country.
Researchers have shown that many businesses that rely solely on Twitter for their businesses are now trying to adapt to another platform. Hence, many of them now resolve to build their own email list as it is not dependent on any platform and gives them the liberty of having smooth communication with their audience at any point in time.
Negative Impact on International Relations and Trade
Most of the resources that are used in Nigeria are importers and the banning of the messaging app has a negative effect on how the international community perceives us and our trading relationship in general. In fact, many international figures stated their opinion when the declaration of the ban was made.
This in turn will affect the way the international community relates with us in all sectors including the trading sector. Subsequently, this negatively affects the economy of the country and affects the way of living of Nigerians.
Social media has formed an important part of the Nigerian lifestyle over the past years and with the ban, the effect is greatly felt. Apart from that, the economy of the country is also affected as many Nigerians depend on the app to generate revenue for themselves.
As the day goes by, the Nigerian government and her economy are known to lose huge billions of dollars every month. To curb the effect of Twitter ban, the government should reverse the ban as many citizens depend on the “bird app” to survive.
However, Nigerians should also start building their email list as it is the only way to boycott the negative effect of banning any social media platforms.
To know more about internet marketing and how you can make more money with your business, visit Lead Web Praxis Media Limited or reach out via [email protected]
By Adedapo Adesanya
TotalEnergies EP Nigeria has signed a Sale and Purchase Agreement with Vaaris for the divestment of its 10 per cent non-operated interest in the Renaissance JV licences in Nigeria.
The Renaissance JV, formerly known as the SPDC JV, is an unincorporated joint venture between Nigerian National Petroleum Company Limited (55 per cent), Renaissance Africa Energy Company Ltd (30 per cent, operator), TotalEnergies EP Nigeria (10 per cent) and Agip Energy and Natural Resources Nigeria (5 per cent), which holds 18 licences in the Niger Delta.
In a statement by TotalEnergies on Wednesday, it was stated that under the agreement signed with Vaaris, TotalEnergies EP Nigeria will sell its 10 per cent participating interest and all its rights and obligations in 15 licences of Renaissance JV, which are producing mainly oil.
Production from these licences, it was said, represented approximately 16,000 barrels equivalent per day in company’s share in 2025.
The agreement also stated that TotalEnergies EP Nigeria will also transfer to Vaaris its 10 per cent participating interest in the three other licences of Renaissance JV which are producing mainly gas, namely OML 23, OML 28 and OML 77, while TotalEnergies will retain full economic interest in these licences, which currently account for 50 per cent of Nigeria LNG gas supply.
Business Post reports that the conclusion of the deal is subject to customary conditions, including regulatory approvals.
“TotalEnergies EP Nigeria has signed a Sale and Purchase Agreement with Vaaris for the sale of its 10 per cent non-operated interest in the Renaissance JV licences in Nigeria.
“Under the agreement signed with Vaaris, TotalEnergies EP Nigeria will sell to Vaaris its 10 per cent participating interest and all its rights and obligations in 15 licences of Renaissance JV, which are producing mainly oil. Production from these licences represented approximately 16,000 barrels equivalent per day in the company’s share in 2025.
“TotalEnergies EP Nigeria will also transfer to Vaaris its 10 per cent participating interest in the 3 other licenses of Renaissance JV, which are producing mainly gas (OML 23, OML 28 and OML 77), while TotalEnergies will retain full economic interest in these licenses, which currently account for 50 per cent of Nigeria LNG gas supply. Closing is subject to customary conditions, including regulatory approvals,” the statement reads in part.
The development is part of TotalEnergies’ strategies to dump more assets to lighten its books and debt.
By Aduragbemi Omiyale
The trading licence of Monument Securities and Finance Limited has been revoked by the regulatory arm of the Nigerian Exchange (NGX) Group Plc.
Known as NGX Regulations Limited (NGX Regco), the regulator said it took back the operating licence of the organisation after it shut down its operations.
The revocation of the licence was approved by Regulation and New Business Committee (RNBC) at its meeting held on September 24, 2025, a notice from the signed by the Head of Market Regulations at the agency, Chinedu Akamaka, said.
“This is to formally notify all trading license holders that the board of NGX Regulation Limited (NGX RegCo) has approved the decision of the Regulation and New Business Committee (RNBC)” in respect of Monument Securities and Finance Limited, a part of the disclosure stated.
Monument Securities and Finance Limited was earlier licensed to assist clients with the trading of stocks in the Nigerian capital market.
However, with the latest development, the firm is no longer authorised to perform this function.
Economy
NEITI Advocates Fiscal Discipline, Transparency as FG, States, LGs Get N6trn in Three Months
By Adedapo Adesanya
The Nigeria Extractive Industries Transparency Initiative (NEITI) has called for fiscal discipline and transparency as data showed that federal government, states, and local governments shared a whopping N6 trillion Federation Account Allocation Committee (FAAC) disbursements in the third quarter of last year.
In its analysis of the FAAC Q3 2025 allocation, the body revealed that the federal government received N2.19 trillion, states received N1.97 trillion, and local governments received N1.45 trillion.
According to a statement by the Director of Communication and Stakeholders Management at NEITI, Mrs Obiageli Onuorah, the allocation indicated a historic rise in federation account receipts and distributions, explaining that year-on-year quarterly FAAC allocations in 2025 grew by 55.6 per cent compared with Q3 of 2024 while it more than doubling allocations over two years.
The report contained in the agency’s Quarterly Review noted that the N6 trillion included 13 per cent payments to derivative states. It also showed that statutory revenues accounted for 62 per cent of shared receipts, while Value Added Tax (VAT) was 34 per cent, and Electronic Money Transfer Levy (EMTL) and augmentation from non-oil excess revenue each accounted for 2 per cent, respectively.
The distribution to the 36 states comprised revenues from statutory sources, VAT, EMTL, and ecological funds. States also received additional N100 billion as augmentation from the non-oil excess revenue account.
The Executive Secretary of NEITI, Mr Sarkin Adar, called on the Office of the Accountant General of the Federation, the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) FAAC, the National Economic Council (NEC), the National Assembly, and state governments to act on the recommendations to strengthen transparency, accountability, and long-term fiscal sustainability.
“Though the Quarter 3 2025 FAAC results are encouraging, NEITI reiterates that the data presents an opportunity to the government to institutionalise prudent fiscal practices that will protect the gains that have been recorded so far in growing revenue and reduce vulnerability to commodity shocks.
“The Q3 2025 FAAC results are encouraging, but windfalls must be managed with discipline. Greater transparency, realistic budgeting, and stronger stabilisation mechanisms will ensure these resources deliver durable benefits for all Nigerians,” Mr Adar said.
NEITI urged the government at all levels to ensure the growth of Nigeria’s sovereign wealth and stabilisation capacity, by committing to regular transfers to the Nigeria Sovereign Wealth Fund and other related stabilisation mechanisms in line with the fiscal responsibility frameworks.
It further advised governments at all levels to adopt realistic budget benchmarks by setting more conservative and achievable crude oil production and price assumptions in the budget to reduce implementation gaps, deficit, and debt metrics.
This, it said, is in addition to accelerating revenue diversification by prioritising reforms that would attract investments into the mining sector, expedite legislation to modernise the Mineral and Mining Act, support reforms in the downstream petroleum sector, as well as the full implementation of the Petroleum Industry Act (PIA) to expand domestic refining and value addition.
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