Meta to Monetize Nigerian Content on Instagram and Facebook: Full Details Here

Facebook and Instagram mother company, Meta, will begin to monetize Nigerian content on Instagram by June 2024. This was revealed when a delegation from the company visited the Nigerian president, Bola Ahmed Tinubu, at the government house, Abuja. The group was led by Sir Nick Clegg, who is the president of Global Affairs for Meta, accompanied by delegates of Meta Platforms Incorporated including Facebook, Instagram, Thread and WhatsApp.

According to the report by Ajuri Ngelale, the presidential spokesperson to Bola Tinubu, the Meta delegates have promised to ensure that Nigerian creators begin to earn on Instagram by June this year.

"Meta will introduce in June 2024 a feature on its Instagram app that will allow Nigerian creators to monetize their content to enable them earn a living using the app," Ajuri said in a statement.

Meta's president also thanked President Tinubu for permitting the landing of the Meta-backed deep-sea cable in Nigeria, which will enhance the countries communication systems. Which he claims has the capacity to speed-up internet connectivity as well as adding about $40 billion value to the continental economy.

The president of Meta, Sir Nick Clegg, did not disclose when Facebook monetization will begin, but the fact that the company is considering monetizing Nigerian content by June on Instagram means Facebook may be next.

There are over 33.5 million Nigerians on Facebook. About 7.2 million Nigerians are highly active Facebook users who login the social media platform daily, according to the company. Also, 8.7 million Nigerians are Instagram users. In addition, 22.47 million Nigerians are expected to use WhatsApp by 2029 according to a report by Statistica. In all, Nigeria is the largest users of Meta platforms in Africa and among the top globally. The market value of the Nigerian population on Meta is large, however, the company have placed Nigeria under countries not eligible for content monetization. 

The plan to begin monetizing Nigerian content is a great relief for many Nigerians who have had to pay foreign managers to monetize their pages. It shows that Meta and its subsidiaries are beginning to recognize the role of Nigeria in the success of the company in Africa.