Meta Threatens To Pull Facebook And Instagram Out Of Nigeria Over $290 Million Fine (techdirt.com) 30
According to Rest of the World, a major confrontation between Meta and the local authorities in Nigeria is currently taking place: "Local authorities have fined Meta $290 million for regulatory breaches, prompting the social media giant to threaten pulling Facebook and Instagram from the country." Techdirt reports: As with earlier EU fines imposed on the company, the sticking point is Meta's refusal to comply with local privacy laws [...]. The fine itself is small change for Meta, which had a net income of $62 billion on a turnover of $165 billion in 2024, and a market capitalization of $1.5 trillion. Meta's current revenues in Nigeria are relatively small, but its market shares are high: "According to social media performance tracker Napoleoncat, Meta has a massive presence in the country, with Facebook alone reaching about 51.2 million users as of May 2024, more than a fifth of the population. Instagram had 12.6 million Nigerian users as of November 2023, while WhatsApp had about 51 million users, making Nigeria the 10th largest market globally for the messaging app."
Since many Nigerians depend on Meta's platforms, the company might be hoping that there will be public pressure on the government not to impose the fine in order to avoid a shutdown of its services there. But it is hard to see Meta carrying out its threat to walk away from a country expected to be the third most populous nation in the world by 2050. In 2100, the population of Nigeria could reach 541 million according to current projections.
Since many Nigerians depend on Meta's platforms, the company might be hoping that there will be public pressure on the government not to impose the fine in order to avoid a shutdown of its services there. But it is hard to see Meta carrying out its threat to walk away from a country expected to be the third most populous nation in the world by 2050. In 2100, the population of Nigeria could reach 541 million according to current projections.
How can we get them to pull out of the USA? (Score:3)
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Why do this to the rare earth minerals in Greenland?
Re:How can we get them to pull out of the USA? (Score:4, Funny)
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Theres always the 120th trimester abortion.
Lil phone call to Dr Luigi, and ma zuckerberg can be back on the carosel before the day is out.
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How can we get them to pull out of the USA?
Judging by the summary, and adjusting for population, I'd say a fine of around $432M should do it. :-)
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Zuck should apply for asylum (Score:1)
...as a white man being treated very unfairly in Africa.
Sounds like a stupid threat (Score:2)
I doubt their society will collapse without Facebook. Chances are it'll improve.
And the only reason Meta is worth anything is inertia. Social media platforms aren't worth anything beyond their user base x activity level. If it's really that important to them, the government can deploy a national replacement service in extremely short order.
In fact, if Zuck doesn't want to play by the local rules, their government should make some noise about doing exactly that. I bet he'd change his mind instantly.
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On the contrary, it is a very unpleasant confirmation of the theory that US billionaires believe they have more power than smaller countries and now, with the US populace electing a president that is corrupt to the core - they believe they can openly threaten them without fear.
When the same question was put forward in the pre-trump age, FB has never uttered a pip about ending service, despite his bootlickers here who've been telling him to leave the EU for years.
zuck the droid swallowed the EU fines.
He'd ha
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Do you have brain damage, or were you just born a fucking moron?
That's twice now you've made the stupidest possible interpretation of one of my posts and called me one of the MAGA cultists without any reasonable justification.
Just fuck off. Block me, don't respond to my posts. You're obviously too stupid to understand them.
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So you think zuck started SUDDENLY threatening whole countries just because?
And he kissed the royal anus for nothing?
My, aren't you gullible AF.
my honest assessment (Score:1)
Dear Canada... (Score:5, Insightful)
Please fine Meta $290 million. Thanks!
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Please fine Meta $290 million. Thanks!
Adjusting for population, Canada should only need to manufacture about $49M in fines. :-)
If Nigeria’s population grows that big (Score:2)
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The single biggest reason for population growth is the lack of government - when the only social security you can get depends on the number of your grown-up children who will support you in old age, you tend to produce more of them.
Large population growth simply ceases in developed countries, because the opportunity costs of having many children become too high.
Economics and sociology 101-level stuff, really.
Re: If Nigeria’s population grows that big (Score:2)
I would add a charge of blackmailing a judge. (Score:3)
And fine them another 100 million for it.
Companies need to learn that they are beneath the governments, not above them. If you want to do business in a country, you need to obey the laws of it, not threaten them.
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They're assholes all day but TBF they are threatening to not do business in the country, which is the remedy you suggest...
Calling your bluff (Score:2)
Go ahead, pull out and never go back.
You tried that before and you are still regretting it, aren't you?
Is that all it takes? (Score:2)
Sounds like an inventive to fine Meta even more.
How will I get my millions from a Nigerian prince (Score:2)
The Nigerian scams will also be gone when Zuck does that.
So maybe a win-win situation for all of us.
And nothing of value was lost (Score:2)
Better yet, Nigeria will GAIN something by being rid of a very big chunk of social (media) disease.
Go ahead Zuck! Don't just threaten to make their lives better, promise it!! PLEASE!!