Social media giant Meta, formerly known as Facebook, made a significant announcement on Thursday, revealing plans for Nigerian creators to monetize their content starting June 2024.
The announcement came during a visit by Meta's President of Global Affairs, Sir Nick Clegg, who led a delegation from Meta Platforms Incorporated to meet with President Bola Tinubu at the State House in Abuja.
According to presidential spokesman Ajuri Ngelale, Sir Clegg disclosed that Meta would introduce a feature on its Instagram app in June 2024, enabling Nigerian creators to monetize their content and earn a living through the platform.
Quoting Sir Clegg, Ngelale stated that the Meta chief expressed gratitude to Tinubu for an executive order facilitating the landing of a Meta-backed deep-sea cable in Nigeria.
Describing the cable project as extraordinary, Sir Clegg highlighted its anticipated impact, stating that upon its launch in the first quarter of 2025, it would possess twice the capacity of all existing subsea cables. He emphasized the cable's enhanced infrastructure, including its greater depth and extensive geographical connectivity, projecting a potential increase of up to $37 billion in economic activity across Africa in the next few years.
President Tinubu also addressed the event, urging Meta to increase its investment in Nigeria, particularly among the youth population.
Tinubu emphasized Nigeria's vibrant and resourceful youth demographic, stressing the importance of preparing them for an AI-enabled future to compete in the global economy.
Asserting Nigeria's readiness for business, Tinubu expressed the country's aspiration to lead Africa in digital technology and emphasized the value of data for national development. He advocated for collaboration on technological advancements, emphasizing the necessity of a mutually beneficial partnership.
In summary, Meta's announcement of the monetization feature represents a significant opportunity for Nigerian creators, aligning with the country's vision for technological advancement and economic growth.
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