Senator Ned Nwoko: Social Media Platforms Could Create 200,000 Jobs in Nigeria

Senator Ned Nwoko argues that social media companies like TikTok and X could create 200,000 jobs for Nigerian youths if they are required to establish physical offices in Nigeria. His proposed bill aims to enforce accountability among these firms, enhance tax revenues, and establish regulations for bloggers and digital content creators, thereby protecting Nigeria’s digital landscape.

Senator Ned Nwoko, representing Delta North Senatorial District, has posited that social media platforms, including TikTok and X (formerly Twitter), could generate approximately 200,000 job opportunities for Nigerian youths if mandated to establish physical offices within the country. He articulated this perspective during an interview with the News Agency of Nigeria (NAN), defending a Bill aimed at amending the Nigerian Data Protection Act, 2023, which is currently under consideration by the National Assembly.

Nwoko emphasized the necessity of the bill, asserting that it addresses the longstanding issue of unregulated operations by major tech companies within Nigeria. He voiced concerns regarding the lack of accountability from these entities, stating, “We have millions of young, talented Nigerians looking for jobs. These social media companies are employing thousands of people in other countries, yet they ignore our people.” He highlighted that if these platforms were to set up offices in Nigeria, they could provide significant employment in various sectors such as customer service and content moderation.

The primary objective of the bill is to compel social media and online businesses to establish physical offices in Nigeria. Senator Nwoko clarified that the bill is not an attempt to hinder business operations but rather to ensure that Nigeria retains control over its digital landscape. He stated, “They make billions of dollars from our people, yet they do not pay the right taxes… Why are we scared to do the same? Are we less of a nation? No!” He cited other countries’ successes in enforcing similar regulations as examples of what Nigeria could achieve.

Furthermore, he indicated that the bill would facilitate tax repatriation, mandating any business wishing to operate in Nigeria to register, comply with local tax obligations, and create jobs. Nwoko asserted that Nigeria suffers an annual loss of at least 10 billion dollars in taxes due to the absence of these companies’ physical presence, stating, “In the last 10 years alone, we have lost more than 50 billion dollars. This cannot continue.” He argued that a fair tax structure would ensure that contributions from these firms benefit the Nigerian economy.

In addition to regulating foreign companies, Senator Nwoko’s bill seeks to hold bloggers and digital content creators accountable. He proposed that all bloggers must possess a verifiable address and be affiliated with a recognized media union, akin to professional organizations for lawyers and doctors. He remarked, “If there is a complaint against a blogger, there must be a professional body to hold them accountable.” This regulatory framework would establish standards within the blogging community and ensure tax compliance for income earned.

Senator Ned Nwoko advocates for a bill that seeks to compel social media giants to establish physical offices in Nigeria, with the intent of creating substantial job opportunities for the local youth and enhancing tax revenue. He emphasizes the need for accountability from these companies, as they currently benefit from the Nigerian market without adequately contributing to its economy. Additionally, the proposed legislation aims to regulate the blogging industry, ensuring accountability and professional standards.

Original Source: nairametrics.com