Natasha Akpoti-Uduaghan, the senator representing Kogi Central, has expressed deep concern over the growing payment disparity faced by Nigerian content creators on international digital platforms, describing the situation as both unjust and potentially harmful to the country’s expanding digital economy.
The senator made the remarks on Thursday during the second reading of a bill seeking to amend the Banks and Other Financial Institutions Act, BOFIA 2025. The bill was sponsored by Tokunbo Abiru, the senator representing Lagos East, and is aimed at enhancing oversight of institutions deemed critical to financial system stability.
Akpoti-Uduaghan highlighted the economic importance of social media and digital platforms for young Nigerians, noting that an increasing number of youths now rely on content creation as a sustainable source of income and career development.
“Today, many of our youths have found careers and jobs on social media,” she said, emphasizing the significant role digital platforms play in providing employment opportunities and financial independence.
She drew attention to the stark contrast in monetization rates on platforms such as Facebook, pointing out that the situation requires urgent regulatory 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 explained, stressing the need for fair treatment of Nigerian creators.
Highlighting the economic significance of the digital workforce, Akpoti-Uduaghan noted that content creation has become a major source of income for young people, yet earnings in Nigeria remain alarmingly low.
“For instance, a youth posting a promotional video in America is paid between ten and thirty dollars for every 1,000 views. Meanwhile, in Nigeria, that same video on the same platform attracts only about fifty cents per 1,000 views,” she explained.
The senator warned that such disparities not only undermine financial inclusion but also threaten the overall growth of Nigeria’s digital economy. She called on regulators and policymakers to engage more actively with global tech companies and financial service providers to ensure fairness, transparency, and equitable compensation for Nigerian creators.
Akpoti-Uduaghan’s remarks come at a time when Nigeria’s digital economy is rapidly expanding, with social media and online platforms becoming critical drivers of employment, entrepreneurship, and innovation for young people.
The bill has now been referred to the appropriate Senate committee for further legislative review, and observers are hopeful that it will lead to stronger oversight of financial institutions and improved protections for Nigerian content creators.
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