Nigeria's Twitter Suspension Spells Trouble For Small, Medium Businesses: Reuters

Twitter Inc's TWTR indefinite suspension in Nigeria on June 4 has affected multiple small and medium-sized businesses across Africa's most populous and largest economy, Reuters reports.
A Lagos-based entrepreneur sold over 500,000-naira ($1,219) worth of accessories on Twitter per week and found it challenging to cope with the ban.
NOI Polls estimates that 39.6 million Nigerians use Twitter, including 20% for business advertisement and 18% for employment.
Interestingly, Twitter is accessible under Virtual Private Networks that hide location.
The suspension cost billions of naira daily as per the Parliament's minority caucus.
An analyst estimated the young Nigerians as the worst hit. The analyst estimated the potential revenue loss and counted it to further lower the living standard amid high inflation.
Information Minister Lai Mohammed last week sought to register the social media sites under a local entity followed by an operating license.
Price action: TWTR shares traded higher by 0.28% at $60.67 on the last check Monday.