Instagram to be monetized by Nigerian creators in June 2024

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Meta Platforms Incorporated, led by former UK Deputy Prime Minister and Meta’s President of Global Affairs, Sir Nick Clegg, has said the platform would introduce a feature on its Instagram app that will allow Nigerian creators to monetise their content

The feature, which will be unveiled in June 2024, will enable indigenous content creators to earn a living using the app.

Clegg revealed this when the delegation paid a visit to President Bola Tinubu at the State House in Abuja on Thursday.

“We have a lot to do with Nigeria to deepen partnerships,” Clegg added

In his address, Tinubu said his administration is making Nigeria the guiding star of information and communications technology in Africa.

To do this, the President said the Federal Government is sustaining investments in digital technology to enhance the sustainability of small businesses and expand opportunities across sectors.

According to a statement signed by his Special Adviser on Media and Publicity, Ajuri Ngelale, the President asserted that Nigeria cannot afford to be left behind in this age of technological advancements.

Therefore, his administration is opening up channels of opportunities in information and communications technology, deepening capacity and fostering partnerships.

The statement is titled, ‘President Tinubu to Meta: Nigeria poised to lead Africa in digital technology; we have gifted youths and capable hands to actualize our vision.’

The President emphasised that Nigerian youths are the most critical asset in Nigeria’s arsenal. Thus, his government is moving to achieve digital economic expansion through its 3MTT programme which is training three million Nigerian youths in digital technology and essential skills before deploying them to innovation hubs nationwide.

“For us in Nigeria, we have a vibrant, gifted and resourceful youth population. Recognising that the future is most likely to be AI-enabled, we have to prepare our youths and make them ready to compete and participate in the global economy.

“I can assure you that Nigeria is open for business. We want to lead the African continent in digital technology. Data is valuable to our development.

“We are ready to cooperate on technological advancements. It is the only way to go. We need a collaboration that will be a win-win for all,” President Tinubu said.

He emphasised the importance of technology in driving small businesses, saying he is committed to ensuring that technology is deployed, adapted, enhanced and used to catalyse growth across a vast majority of micro businesses, spurring mass prosperity down the line.

Tinubu explained, “What interests me is the use of technology in the development of small businesses.

“We need to make the business environment more conducive for you and more profitable for us as well.

“I hope we can collaborate and continue to promote our mutual interests.”

Earlier in his remarks, Clegg thanked the President for an executive order he issued, which enabled the landing of the Meta-backed deep-sea cable in Nigeria.

He said, “It is an extraordinary infrastructure project. When it comes on stream in the first quarter of 2025, it will be twice as much as the capacity of all subsea cables that exist.

“We buried the cable 50 percent deeper than any other subsea cables under the seabed. It is more powerful and more extensive in terms of its geographical connectivity.

“It could yield up to 37 billion dollars’ worth of increase in economic activity in the next two or three years across the African continent.”

The Minister of Communications, Innovation and Digital Economy, Dr. Bosun Tijani, said Meta platforms are critical platforms in Nigeria, and as such opportunities for partnerships and engagement are essential to promoting development in the digital economy sector.

“We must continue to engage to create opportunities for our people so they can also share in global prosperity. Digital technology is an opportunity to connect Africa to contribute to the development of the world,” the Minister said.