Natasha Akpoti-Uduaghan, the senator representing Kogi Central, has voiced concern over the widening payment gap faced by Nigerian content creators on international digital platforms, describing the disparity as both unjust and harmful to the country’s expanding digital economy.
She made the remarks on Thursday during the second reading of a bill seeking to amend the Banks and Other Financial Institutions Act (BOFIA) 2025, sponsored by Tokunbo Abiru, the senator representing Lagos East.
Akpoti-Uduaghan underscored the growing economic value of social media for young Nigerians, noting that many now rely on digital platforms for sustainable careers.
“Today, many of our youths have found careers and jobs on social media,” she said.
She drew attention to the sharp contrast in monetisation rates on platforms such as Facebook, describing it as a trend that requires urgent intervention.
“One trend that cannot be ignored is the vast discrepancy in payments for transactions carried out on Facebook in Nigeria compared to the United States,” she said.
Highlighting the importance of the digital workforce, Akpoti-Uduaghan said content creation now serves as a major source of income for young people, yet earnings remain alarmingly low in Nigeria.
“For instance, a youth posting a promotional video in America is paid between $10 and $30 for every 1,000 views. Meanwhile, in Nigeria, that same video on the same platform attracts only about 50 cents per 1,000 views,” she explained.
She warned that such disparities threaten financial inclusion and undermine the progress of Nigeria’s digital economy.
She therefore called for intensified regulatory engagement with global tech companies and financial service providers to ensure fairness, transparency, and equitable earnings for Nigerian creators.
The bill, aimed at enhancing oversight of institutions considered critical to financial system stability, has been referred to the appropriate Senate committee for further legislative review.