EFFECT OF TWITTER BAN ON SMALL BUSINESSES OPERATION IN NIGERIA
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EFFECT OF TWITTER BAN ON SMALL BUSINESSES OPERATION IN NIGERIA
INTRODUCTION
1.1 Background of the Study
Small and Medium Enterprises (SMEs) are widely recognised as effective vehicles for wealth creation, job creation, and sustainability. According to studies, SMEs have maintained their position as the backbone of both developed and developing countries, accounting for between 70 and 95% of all business entities in most countries and creating 50 to 80% of employment (Ogbechie & Anetor 2015).
In Nigeria, SMEs play an important role in creating job and income opportunities for low-income workers in the economy. According to the National Bureau of Statistics (National Bureau of Statistics 2017), the SME sector employed 84.02% of Nigeria’s employment force as of December 2017.
In an era of global cutthroat competition, a knowledge-based economy, technical advancements, and innovation, social media has played a critical role in enhancing SMEs’ competitiveness (Aremu & Adeyemi 2011).
According to Oso (2011), one of the needs for social media is that it be considered as a strategic tool for economic improvement, which means that it may contribute to a country’s cultural, human, social, political, and economic development. Twitter is one of the social media sites that promote economic development.
Over the last decade, Twitter has become a source of income, community, and knowledge in Nigeria. As a result, the Federal Ministry of Information and Culture’s recent Twitter ban has had far-reaching consequences for millions of Nigerians.
Nigerians were understandably outraged by the decision, which they saw as the government’s war on free speech. However, free speech is not the sole issue (Vanguard News). Businesses in Nigeria are especially sensitive to the issues posed by the recent Twitter ban.
Small and medium-sized businesses are critical to Nigeria’s economic growth, often employing 60-70% of the workforce. Nigeria’s SMEs, which number over 117.4 million, account for 48% of the national GDP, 96% of all enterprises, and 84% of employment.
Many small and medium-sized enterprises (SMEs) have used the Internet, particularly social media, for commercial tasks including marketing and customer support. The amount of vendors on Twitter demonstrates this.
While these businesses might shift to other platforms, their postings may not receive the same level of engagement as Twitter’s. Thus, against this context, the purpose of this study is to investigate the impact of the Twitter ban on Nigerian SMEs.
1.2 Statement of the Problem
Ngozi Okonjo-Iweala estimates that 39.6 million Nigerians use Twitter, with 20% advertising for businesses and 18% looking for work (Vanguard News). Scores of small and medium-sized enterprises in Africa’s most populous country and largest economy are hurting from Twitter’s indefinite ban.
The restriction is expected to have an impact on firms in Nigeria that use Twitter to carry out specific operations. According to the Vanguard online newspaper, the ban will have an impact on economic operations, some of which provide income for millions of young Nigerians, as well as online news sites that rely on Twitter to expand their reach and convey news to the people.
Regarding the implications for digitally based financial service providers, it was said that “Fintech companies that do not have brick-and-mortar branches use Twitter to inform customers about their product offerings and promotions.”
Furthermore, Telecos resolves various consumer problems via their social media handles and informs them about the latest specials. ” This latest breakthrough will have a significant impact on investment platforms such as Piggyvest and Flutter0wave
Among others, in terms of their online client outreach strategies. In light of the foregoing, this study focuses on the impact of the Twitter ban on small businesses in Nigeria.
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