Business
TikTok creators, business owners protest planned ban of app, say it threatens lives, livelihoods
TikTok creators, business owners protest planned ban of app, say it threatens lives, livelihoods
Small business owners, community advocates and educators have spoken against the US House’s overwhelming approval of a proposal to ban a popular app, TikTok.
The Washington Post reports that many content creators among others protested outside the Capitol on Wednesday March 13 after the House approved the proposal.
Contributing about $14.7 billion in revenue for small-business owners last year and $24.2 billion to US Gross Domestic Product, educators, activists, small business owners and young people who use TikTok argue that the app plays an increasingly crucial role in the national economy and American public life.
“Banning TikTok would shut down a lot of small businesses, including mine,” said Brandon Hurst, 30, a Los Angeles plant shop owner who credits the app with boosting lackluster sales. “These representatives and senators don’t understand that what they’re doing won’t just harm people they call ‘content creators.’ It would hurt small businesses.”
Dozens of TikTok supporters gathered outside the Capitol on Wednesday to oppose the measure, which passed the House with overwhelming support but faces an uncertain fate in the Senate.
Among them was Gigi Gonzalez, a financial educator from Chicago who said a TikTok ban would destroy her financially.
“It would get rid of my biggest source of revenue,” said Gonzalez, 34, who said she earns her living largely through brand deals on TikTok, speaking gigs she secures through TikTok and digital courses that she sells through TikTok. Before TikTok, Gonzalez said she mostly tried to reach people through webinars, which drew sparse attendance. Now, she said, she reaches millions, many of whom buy her courses and books.
“TikTok provides more benefit than harm than any other social media platform,” added Heather DiRocco, an artist and content creator from Montana who makes money by touting products in her videos and through the platform’s creativity program beta, which pays creators based on the number of views they amass on videos over a minute in length.
DiRocco is one of several plaintiffs seeking to overturn Montana’s first-in-the-nation ban on TikTok, which was set to take effect in January but was blocked by a federal judge.
“I could not replicate the money that I make on TikTok through any other platform,” DiRocco said. If a national ban passes Congress and President Biden follows through on his pledge to sign it, she said, “I will lose my biggest platform as a content creator, stripped from me with no recompense or compensation.”
Since rebranding in 2018 under the name TikTok, the app has risen to become one of the most popular social media platforms, with 170 million monthly users in the United States alone.
Hundreds of thousands of content creators make a living on the app, which has skyrocketed artists and influencers such as Lil Nas X, Doja Cat and Charli D’Amelio to overnight fame.
More than seven million American businesses market or sell their products through TikTok, according to the company.
According to a study issued Wednesday by Oxford Economics, a financial consultancy, TikTok drove $14.7 billion in revenue for small-business owners last year and contributed $24.2 billion to US Gross Domestic Product.
The study also found that TikTok supports at least 224,000 American jobs, with the greatest economic impact in California, Texas, Florida, New York and Illinois.
In addition to its economic impact, TikTok has become a huge educational hub.
Through its #LearnOnTikTok initiative, the company has partnered with more than 800 public figures, publishers, educational institutions and subject matter experts to bring educational material to the app.
TikTok also gives grants to educators and nonprofits that produce educational content.
“Both sides of the aisle know that TikTok is a crucial tool that many — particularly young people — use for education, advocacy and organizing,” said Annie Wu Henry, a digital strategist and content creator.
“It’s incredibly clear, too, that many of these politicians don’t fully understand what the app is that they are trying to ban or even why they are trying to ban it.”
Even as TikTok has become increasingly important economically, it has drawn fire from policymakers in both parties, who have expressed concern about the content being served to users of the app and about its parent company’s ties to China.
On Wednesday, Rep. Dan Crenshaw (R-Tex.) posted to X that “voting against this bill is a vote for the Chinese Communist Party.”
TikTok chief executive Shou Zi Chew responded to the House vote in a video, calling the result “disappointing” and encouraging the app’s users to speak out against the legislation.
“Over the last few years, we have invested to keep your data safe and our platform free from outside manipulation,” he said.
“We have committed that we will continue to do so. This legislation, if signed into law, will lead to a ban of TikTok in the United States. … It will also take billions of dollars out of the pockets of creators and small businesses.”
Proponents of the House measure claim the bill is not intended to ban the app, though experts say it would function as a ban.
The measure would require TikTok, which is owned by China-based ByteDance, to be sold to a US-based company within 180 days, which many say is unfeasible.
After that period web-hosting services would be prohibited from providing TikTok to the public.
Opponents of the measure are skeptical.
“It’s unrealistic that TikTok’s parent company would be able to sell the app within the US within six months, which is the time period the government mandates under this bill,” said Nora Benavidez, a civil rights and free-speech attorney and senior counsel at Free Press, a nonpartisan organization focused on protecting civil liberties.
“Faced with that likely scenario, the penalties they’d face in the case of such an event would result in TikTok being banned.”
Rep. Robert Garcia (D-Calif.), who voted against the measure, told a rally of opponents on Tuesday that “any ban on TikTok is not just banning the freedom of expression — you’re literally causing huge harm to our national economy.”
“Small-business owners across the country use TikTok to move our economy forward. Some of these creators and these business owners solely depend on TikTok for their revenue and their job,” Garcia said.
“To rush a process forward that could ban their form of work — particularly young people in this country — is misguided.”
Garcia added that the app is an important connection point for various social groups, including the LGBTQ+ community.
Tiffany Yu, 35, a disability activist in Los Angeles, said banning the app would be especially harmful to disabled people, many of whom have found it to be a lifeline during the isolation of the ongoing coronavirus pandemic, which is still keeping public spaces off limits to vulnerable people.
“TikTok has been able to help us find each other. Losing TikTok would remove us from that social fabric,” Yu said, adding that TikTok has become an economic lifeline for a group whose “unemployment rates are twice that of our non-disabled peers.”
The House bill would strip “millions of Americans of their rights of freedom of speech, and it’s really not okay,” said Carly Goddard, a content creator who also is a plaintiff in the case against the Montana TikTok ban.
“On TikTok, you see … what is going on in our world,” Goddard said. And “there is more to worry about in our world than banning an app.”
Railway
Lagos Rail Mass Transit part of FG free train ride – NRC
Lagos Rail Mass Transit part of FG free train ride – NRC
The Nigerian Railway Corporation (NRC) has disclosed that the Lagos Rail Mass Transit (LRMT) trains are included in the Federal Government’s free train ride initiative for the Christmas and New Year celebrations.
The LRMT, which currently includes the Phase 1 Blue Line Rail and the Phase 1 of the Red Line Rail, operates under the Lagos Metropolitan Area Transport Authority (LAMATA).
This announcement was made by Ben Iloanusi, the Acting Managing Director of the NRC, during an interview on NTA News TV on Friday, following the launch of the initiative earlier that day.
While Iloanusi stated that Phase 1 of both the Blue Line and Red Line Rail projects are part of the program, LAMATA has yet to confirm this inclusion.
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Iloanusi outlined the other routes benefiting from the scheme, which include the Lagos-Ibadan Train Service, Kaduna-Abuja Train Service, Warri-Itakpe Train Service, Port Harcourt-Aba Train Service, and the Bola Ahmed Tinubu Mass Transit in Lagos. Notably, little was previously known about the Bola Ahmed Tinubu Mass Transit service until this disclosure.
“Let me mention the routes where this free train service is happening. We have the Lagos-Ibadan Train Service, we have the Kaduna-Abuja Train Service, we have the Warri-Itakpe Train Service, we have the Lagos Rail Mass Transit trains, we have the Port Harcourt-Aba Train Service, and we have what we call the Bola Ahmed Tinubu Mass Transit, which is also in Lagos,” he stated.
Iloanusi provided operational updates, stating that passengers nationwide can access free tickets online or, for those unable to do so, at train stations where they will be profiled and validated.
He noted that passengers using NRC-managed services (excluding the Lagos Rail Mass Transit) should reserve tickets via the official website, www.nrc.gov.ng, with a valid ID required. He also advised travelers to plan, arrive on time, and bring valid identification.
Lagos Rail Mass Transit part of FG free train ride – NRC
Business
NNPC denies claim of Port Harcourt refinery shutdown
NNPC denies claim of Port Harcourt refinery shutdown
The Nigerian National Petroleum Company Limited (NNPCL) has denied claims in media reports that the newly refurbished Port Harcourt refinery has shut down.
The national oil company denied the claim in a press release issued by its Chief Corporate Communications Officer, Olufemi Soneye, on Saturday.
Soneye said the claim was false and urged Nigerians to disregard it. He stressed that the Port-Harcourt Refinery is fully operational.
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The statement read, “The attention of the Nigerian National Petroleum Company Limited (NNPC Ltd.) has been drawn to reports in a section of the media alleging that the Old Port Harcourt Refinery which was re-streamed two months ago has been shut down.
“We wish to clarify that such reports are totally false as the refinery is fully operational as verified a few days ago by former Group Managing Directors of NNPC.”
He noted that preparation for the day’s loading operation is currently ongoing, and added that claims of the shutdown are “figments of the imagination of those who want to create artificial scarcity and rip-off Nigerians.”
NNPC denies claim of Port Harcourt refinery shutdown
Business
CBN permits BDCs to buy up to $25,000 FX weekly from NFEM
CBN permits BDCs to buy up to $25,000 FX weekly from NFEM
The Central Bank of Nigeria (CBN) has granted Bureau de Change (BDC) operators temporary permission to purchase up to $25,000 weekly in foreign exchange (FX) from the Nigerian Foreign Exchange Market (NFEM).
The Central Bank of Nigeria (CBN) has granted Bureau de Change (BDC) operators temporary permission to purchase up to $25,000 weekly in foreign exchange (FX) from the Nigerian Foreign Exchange Market (NFEM).
This move, detailed in a circular dated December 19, 2024, is designed to meet seasonal retail demand for FX during the holiday period.
The circular was signed by T.G. Allu, on behalf of the Acting Director of the Trade and Exchange Department.
The arrangement will be in effect from December 19, 2024, to January 30, 2025.
Under the directive, BDCs may purchase FX from a single Authorized Dealer of their choice, provided they fully fund their accounts before accessing the market.
Transactions to occur at the prevailing NFEM rate
The transactions will occur at the prevailing NFEM rate, and BDCs are required to adhere to a maximum 1% spread when pricing FX for retail end-users.
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All transactions conducted under this scheme must be reported to the CBN’s Trade and Exchange Department.
The circular read in part:
“In order to meet expected seasonal demand for foreign exchange, the CBN is allowing a temporary access for all existing BDCs to the NFEM for the purchase of FX from Authorised Dealers, subject to a weekly cap of USD 25,000.00 (Twenty-five thousand dollars only).
This window will be open between December 19, 2024 to January 30, 2025.
“BDC operators can purchase FX under this arrangement from only one Authorized Dealer of their choice and will be required to fully fund their account before accessing the market at the prevailing NFEM rate. All transactions with BDCs should be reported to the Trade and Exchange department, and a maximum spread of 1% is allowed on the pricing offered by BDCs to retail end-users.”
The CBN assured the general public that PTA (Personal Travel Allowance) and BTA (Business Travel Allowance) remain available through banks for legitimate travel and business needs.”
These transactions are to be conducted at “market-determined exchange rates” within the NFEM framework.
This initiative reflects the CBN’s strategy to stabilize the FX market and manage seasonal surges in demand.
CBN permits BDCs to buy up to $25,000 FX weekly from NFEM
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