Mark Zuckerberg’s Meta, which includes Facebook, WhatsApp, and Instagram, has announced that it will add a feature to its Instagram app that will enable content creators in Nigeria to make money from their work.
When Sir Nick Clegg, a former UK Deputy Prime Minister and current President of Global Affairs at Meta, met with President Bola Ahmed Tinubu in Abuja on Thursday, he revealed this.
When it’s released in June 2024, the feature will let indigenous content creators make money with the app.
The discussion that ensued
According to President Bola Tinubu, his administration is continuing to invest in digital technology in order to help small businesses stay afloat, broaden opportunities across industries, and make Nigeria the IT leader in Africa.
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Attending a meeting at State House in Abuja on Thursday, the President told a delegation from Meta Platforms Incorporated—led by Sir Nick Clegg, a former UK Deputy Prime Minister and Meta’s President of Global Affairs—that Nigeria must not fall behind in this era of rapid technological development. To that end, his administration is expanding opportunities in ICT, strengthening capacities, and cultivating partnerships.
President has stressed that the youth of Nigeria is the country’s most valuable resource as it strives for digital economic expansion.
This is in light of his administration’s 3MTT program, which aims to train three million young people in digital technology and essential skills before sending them to innovation hubs around the country.
The President disclosed the intention for Nigeria to lead the continent in technology and reiterated his commitment to deploying, adapting, and enhancing technology so that it can catalyze growth across the majority of micro businesses. This will spur mass prosperity in the long run, as he highlighted the importance of technology in driving small businesses.
It was the president’s executive order that allowed the landing of the deep-sea cable in Nigeria, and Sir Clegg thanked him for it. A remarkable infrastructure project it is. Its capacity, when fully operational in the first quarter of 2025, will exceed that of all subsea cables combined.
He disclosed that, compared to other subsea cables, their burial depth was 50% deeper. From a geographical perspective, it is more extensive and powerful. Within the next two or three years, it has the potential to boost economic activity across Africa by as much as $37 billion.
In addition, Sir Clegg mentioned that in June 2024, Meta will launch an Instagram feature that will enable creators in Nigeria to monetize their content and make a livelihood through the platform.
Meta platforms are crucial in Nigeria, according to Dr. Bosun Tijani, Minister of Communications, Innovation, and Digital Economy. He emphasized the importance of partnerships and engagement in fostering development in the digital economy sector.
Kenya to enjoy the same benefit.
Starting in June of this year, content creators in Kenya, just like in Nigeria, will be able to monetize their posts on Meta’s Facebook and Instagram platforms. The digital content landscape of Kenya has taken a giant leap forward thanks to a joint effort by President William Ruto and the social media behemoth Meta.
Nick Clegg, president of global affairs at Meta, who also visited Kenya, announced that Kenyan content creators who meet the criteria would be able to monetize their content on Facebook and Instagram after discussions at State House Nairobi. Following successful models seen on platforms like YouTube and X, the Kenyan government has been working for the past year to give creators more control over how they make money online. This announcement is part of that effort.
Recognizing the initiative’s potential to open new income streams for Kenya’s youth demographic, President Ruto praised it. He went on to say that creators all across the nation would benefit from Meta making the monetization feature available on M-Pesa.
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Details on the monetization
A minimum of 5,000 followers on a private Facebook profile or 10,000 followers on a Facebook page is one of the requirements that content creators must meet in order to participate in the programme. Furthermore, creators are expected to have a history of active participation, as shown by a minimum number of live videos and metrics for viewership.
Facebook pays out between $8 and $20 for every 1,000 views, according to industry insiders; in most African countries, the average Cost Per Mile (CPM) is $10. Advertisers can reach their target demographic effectively through in-stream ads, which are strategically placed within content videos to provide a seamless viewing experience for audiences.
In addition to bolstering content creators’ agency, this program bolsters larger initiatives to generate employment opportunities and increase economic empowerment, particularly among young people, through the utilization of the digital realm. The launch of the monetization feature in June heralds a new era of innovation and potential, creating a tremendous opportunity for the dynamic digital content community.