The ban placed on social network platform, Twitter by the Federal Government has incurred losses of up to N309.26bn to the economy.
The ban which has entered its 124th day was ordered by the Nigerian government on the 4th of June.
According to reports obtained from NetBlocks Cost of Shutdown Tool, it costs Nigeria’s economy N103.92m ($250,600) every hour to ban Twitter. Records shows that It has been 2,976 hours since the FG banned Twitter.
There has been an outcry by several users of the social platform who had recorded losses due to the ban of the platform.
According to a twitter user @stifler_ldn, he lost a N7m twitter project when the ban kicked in. He added that the ban had affected campaign projections and caused loses of job opportunities stating, "It was a campaign with a financial firm; the ban hindered campaign plans as the company wasn’t convinced enough about the need.”
Another Twitter user, @I_am_kiki, said she lost a virtual assistant job to the ban, as it happened the second week of resumption.
Speaking on the reason for the ban, the President of Nigeria, Muhammadu Buhari said, “Social media is a very useful platform that has enabled millions of Nigerians to connect with loved ones, promote their businesses, socialise, and access news and other information.
“However, recent events have shown that the platform is not just an innocuous platform for information dissemination.
“Rather some users have misused the platform to organise, coordinate, and execute criminal activities, propagate fake news, and promote ethnic and religious sentiments.
“To address these negative trends, the Federal Government of Nigeria suspended the operations of Twitter in Nigeria on June 5, 2021 to allow the government put measures in place to address these challenges.”
Although, the Nigerian government had at various times said it was close to lifting the ban, no measure has been put in place to this effect. 
In his Independence Day speech, President Buhari hinted that the ban would not be lifted until Twitter registered in Nigeria and had a physical presence and representation.
Earlier in the year, Twitter chose to open its African office in Ghana. The social networking company stated that this decision was based on Ghana’s access to the internet access, and its online and offline free speech policy.