A Digital Marketing Consultant at EssenceMediacom, Olayinka Shobola, expressed concerns that a shutdown of Facebook and Instagram operations in Nigeria would deal a serious blow to Nigeria’s digital economy, especially millions of micro, small, and medium enterprises (MSMEs).
The Global System for Mobile Communications Association reported that Nigerian MSMEs rely heavily on Facebook and Instagram for sales, customer engagement, and brand visibility.
Meta Platforms’ threat to halt operations in Nigeria could devastate 56 percent of the nation’s 39.6 players in the information technology space,” Shobola said, stressing that such an exit would erode tax revenues and force businesses to seek costly alternatives, as a $290 million fine dispute with regulators intensifies.
Businesses that built their brands on Meta’s platforms would face immediate challenges.
The platforms have become essential tools for business survival and growth in Africa’s largest economy, where SMEs contribute nearly 50 percent to GDP and represent more than 96 percent of registered businesses.
Most likely affected businesses will pivot to platforms like X or TikTok for short-term survival, but long-term, they’ll need to invest in standalone e-commerce or offline channels,” Shobola said.
Jobs will take a hit; marketers, influencers, and agencies will lose contracts overnight.”
“My shop practically lives on these platforms, especially Instagram,” Lagos-based baker Fatima Tunde said. “If it’s gone, I’m out of business.”
Statista forecasts a $148.2m social media ad market in 2025, with Facebook commanding up to $120m, driven by 38 million users.