By John Alechenu
Abuja: Senator Natasha Akpoti-Uduaghan (PDP, Kogi Central), has decried the earring gap between Nigerian content creators and the counterparts in other countries of the world.
She drew attention to two key issues: the need to protect Nigeria’s growing digital economy as well as its young content creators.
Natasha said this while contributing to a debate during the second reading of the Bill for an Act to Amend the Banks and Other Financial Institutions Act (BOFIA) to Provide for the Designation, Registration and Enhanced Supervision of Systematically Important Institutions; and for Related Matters, 2025 (SB. 959), sponsored by Senator Abiru Adetokunbo (APC, Lagos East).
The proposed amendment seeks to strengthen the legal and regulatory framework guiding Nigeria’s financial sector, ensuring stronger oversight over institutions deemed critical to the stability of the financial system.
Senator Natasha drew attention to the emerging importance of social media as a source of employment for millions of Nigerian youths.
She expressed concern over the “a huge discrepancy”, in payments received by Nigerian content creators when compared to their foreign counterparts especially on Facebook.
The federal lawmaker said: “Today, many of our youths have found careers and jobs on social media. One particular trend that is worthy of mention is the huge discrepancy in payments for transactions carried out on Facebook in Nigeria compared to the United States.”
According to her, the social media has evolved into a major economic platform, and the financial sector must recognize and support this rapidly expanding digital workforce.
She said further: “I’m speaking for the content creators because, trust me, social media has become a very critical source of income for our youths.”
“For example, a youth airing a promotional video in America is paid between $10 and $30 for 1,000 views. Meanwhile, in Nigeria, the same video posted on the same platform earns only 50 cents per 1,000 views.”
She argued that such discrepancies have broader implications for Nigeria’s digital economy and financial inclusion, stressing that policy reforms must account for evolving economic realities, especially as more young Nigerians turn to digital platforms for sustainable livelihoods.
Senator Natasha called for stronger regulatory engagement with global technology companies and financial service providers in order for Nigeria and Nigerians to take full advantage of all the system has to offer.
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