By: Damian Okonkwo
Twitter - the social media giant, which was acquired by Elon Musk in 2022, now requires businesses to pay N460,500 per month to retain their verification status on the platform. Added to this, there is also an additional monthly fee of N23,030 for each affiliated individual or business to get verified on the platform.
The move is part of a wider push by Musk to recoup the $44 billion he invested in acquiring Twitter. The company has already rolled out Twitter Blue for individuals, and now the verified badge for businesses is globally available as well. The gold badge distinguishes businesses on the platform, and organizations that sign up for Verified Organizations will have full control of vetting and verifying the accounts they're affiliated with.
Twitter's Chief Executive, Elon Musk, praised the new verification plan, saying it would help to eliminate impersonation on the platform.
“This is important to establish whether someone belongs to an organization or not to avoid impersonation,” Musk tweeted.
Hence, it stands very important for all businesses, non-profit bodies, governments, and multilateral organizations worldwide to join the waitlist to get verified. However, it is still unclear whether other countries will be given the same pricing as Nigeria also or whether the prices would vary according to region.
Recent reports suggest that Musk has discovered Twitter is worth less than half the price as ad revenue dwindles, prompting him to look for ways to make the company profitable. He had also tweeted previously that Twitter was on the verge of bankruptcy when he took over, and he hopes to stabilize the platform before the end of Q1 2023.
Overall, Twitter's new verification fees for Nigerian businesses and individuals are a significant step towards combating impersonation on the platform. Thus, the added feature for both businesses and Organization's verification now gives full control of vetting and verifying accounts they're affiliated with. Whether other countries will adopt Nigeria's pricing model remains to be seen, but it's clear that Elon Musk is committed to making Twitter profitable and sustainable in the long term.