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Musk says Twitter Lost Half of its Advertising Revenue

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Twitter has lost roughly half of its advertising revenue, according to owner Elon Musk, since he bought the social media platform for $44 billion last October.

Musk, who has been outspoken about the difficulties facing the company, broke the figures in a tweet response to a user who was giving suggestions on financing for the platform.

“We’re still negative cash flow, due to ~50% drop in advertising revenue plus heavy debt load,” the billionaire tweeted Saturday.

“Need to reach positive cash flow before we have the luxury of anything else,” he added, without further elaboration.

Insider Intelligence has reported that Twitter was set to earn less than $3 billion in revenue in 2023, down one-third from 2022.

Changes instituted by Musk since his takeover of Twitter have turned off users and advertisers alike.

Earlier this month, Musk announced that Twitter was limiting verified accounts to reading 10,000 tweets a day, in a bid “to address extreme levels of data scraping” and “system manipulation” by third-party platforms.

Non-verified users — the free accounts that make up the majority of users — are limited to reading 1,000 tweets per day, while new unverified accounts are limited to 500 tweets.

Twitter has also said TweetDeck, a popular program that allows users to monitor several accounts at once, will only be available to verified users from next month.

The changes came as Threads, an app launched by Facebook parent Meta as a rival to Twitter, registered more than 100 million users in its first five days.

Earlier this year, the artificial intelligence app ChatGPT, created by OpenAI, took two months to reach the same number of active users.

According to some estimates, Threads has now reached 150 million users, with India leading the way, boosted by its link to Instagram which gives it a built-in audience of more than two billion users and spares the platform the challenge of starting from scratch.

Twitter is thought to have around 200 million regular users but it has suffered repeated technical failures since Musk bought the platform and sacked thousands of staff.

Many have expressed privacy concerns over Meta CEO Mark Zuckerberg’s new platform, which asks users to give Meta permission to track them closely across the internet.

Those demands have delayed the launch of Threads in Europe, where new legislation limits the ability of Meta to track and share data across its family of platforms.

Its business model revolves around sucking up personal data to use for targeted ads and Threads accounts are linked to Instagram accounts.

But few expect Threads to maintain its embargo in Europe indefinitely.

European law expert Alexandre de Streel said big tech firms would probably be hammering out compliance issues with the EU over the coming months.

“I think it’s more a question of time to understand the scope of the legislation and have a dialogue with the commission,” he said.

Musk has also threatened to sue Meta for stealing trade secrets and intellectual property, claims denied by the company.

In a letter to Zuckerberg, published by the online news outlet Semafor this week, Musk’s lawyer also accused the company of recruiting dozens of former Twitter employees who “had and continue to have access to Twitter’s trade secrets and other highly confidential information.”

The two men have been bickering for years, but things have become heated since it became clear Meta intended to compete with Twitter.

AFP


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Ugo Onwuaso is an ICT enthusiast. He believes technology should be used for general good. He holds a Master of Public Administration (MPA) degree from the Lagos state University. Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

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Airtel Africa Cuts Diesel Dependence by 9.1m Litres

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Airtel Africa, a telecommunications and mobile money services provider across 14 African countries, saved 9.1 million litres of diesel during its just ended 2025/2026 financial year, as part of efforts to drive responsible growth by minimising the environmental impact of its operations.

This was achieved by reducing reliance on diesel and increasing use of lower-carbon energy sources, including the conversion of 390 infrastructure sites to on-grid power during the year, thus improving efficiency and reducing emissions.

Airtel Africa CEO, Sunil Taldar highlighted this achievement during a media roundtable held in Lusaka, Zambia, where he presented the Group’s Sustainability Scorecard and progress towards building a more sustainable, inclusive and connected Africa.

Other initiatives to reduce Airtel Africa’s environmental impact during the year included promoting the circular economy, recycling 94% of total waste generated. These form part of Airtel Africa’s broader sustainability strategy, which seeks to create long-term value by balancing business growth with environmental stewardship, digital inclusion and socio-economic development.

Mr. Taldar emphasized that responsible growth remains central to Airtel Africa’s business strategy and is reflected in the company’s ability to extend services and opportunities to millions of people across the continent while advancing sustainability goals. Airtel Africa’s network now reaches 81.9% of the population across its markets, enabling greater access to connectivity, information, education and economic opportunities for individuals and communities.

The company recorded progress in its efforts to advance financial inclusion. Airtel Money now serves 54.1 million customers through a network of 2.4 million agents, making it one of Africa’s largest digital financial services ecosystems. Notably, 44.1% of Airtel Money customers are female, demonstrating the platform’s growing role in empowering women through access to secure, affordable and convenient financial services.

Beyond connectivity and financial inclusion, Airtel Africa, through its philanthropic arm, Airtel Africa Foundation continued to drive meaningful change across communities in the continent, investing US$6.2 million in priority programmes in four strategic areas namely Financial Inclusion, Education, Environmental Sustainability and Digital Inclusion.

Through its partnership with UNICEF, 3,296 schools have been connected to the free internet access, helping to bridge the digital divide and expand access to quality education reaching over 2 million learners and 38,868 teachers, while 64 zero-rated digital learning platforms enabled more than 11 million learners to access free digital educational content.

Also, during the year, more than 30,000 young people received digital skills training, while over 250 full undergraduate STEM scholarships were awarded through the Airtel Africa Tech Fellowship programme, helping to prepare the next generation of African innovators and technology leaders.

 


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Microsoft Axes 4,800 Jobs as Xbox Faces Major Crisis

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Microsoft has announced plans to cut about 4,800 jobs globally, representing approximately 2.1 per cent of its workforce, as part of a broader restructuring aimed at improving efficiency and competitiveness.

Microsoft Axes 4,800 Jobs as Xbox Faces Major Crisis

The layoffs include about 1,600 employees in the company’s Xbox gaming division.

The company said additional job cuts are expected later this year as it continues efforts to reposition its gaming business.

According to an internal memo from Xbox Chief Executive Officer, Asha Sharma, the restructuring is intended to “reset” the business amid increasing competition in the gaming industry.

“Our business today is not healthy,” Sharma said in the memo.

“We are operating at margins that are three to 10 times lower than comparable platform and publishing businesses.”

She attributed the challenges facing the division to rising production costs and intense competition in the gaming hardware market.

According to Sharma, the gaming industry is currently experiencing a severe hardware crisis as the cost of components used in gaming consoles continues to rise.

Xbox competes with gaming platforms such as Sony’s PlayStation and Nintendo’s Switch.

The latest layoffs form part of Microsoft’s broader strategy to streamline operations and strengthen the long-term sustainability of its gaming business.


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A New Blueprint – How Strategic Collaboration is Rewriting the Narrative on Youth Drug Abuse

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By Odunayo Sanya, Executive Director, MTN Foundation

Leadership, in its truest essence, is not about the titles we hold or the executive seats we occupy; it is about the responsibility we assume for the future of our communities. According to John Maxwell, a leader is one who knows the way, shows the way and goes the way. As we commemorate World Drug Day (26 June), we are collectively confronted with a sobering reality that demands that we intentionally create the conditions for Nigerian youths to thrive.

 A New Blueprint - How Strategic Collaboration is Rewriting the Narrative on Youth Drug Abuse

Odunayo Sanya, Executive Director, MTN Foundation

This year’s global theme reminds us that the fight against substance abuse demands a collective response because its consequences extend far beyond the individual, affecting public health, economic productivity, community wellbeing, and national development.

To understand the weight of what is at stake, we must anchor our empathy in empirical truth. The United Nations Office on Drugs and Crime (UNODC) Drug Use in Nigeria Survey (2018), still one of Nigeria’s most comprehensive national assessments of substance abuse, revealed a deeply distressing reality. Nearly 14.3 million Nigerians aged 15 to 64 had used psychoactive substances. While the survey remains an important benchmark, the passage of time since its publication underscores the urgent need for more current data to guide prevention and intervention efforts. Nonetheless, the survey revealed that one in every four drug users in Nigeria was a woman, while the highest concentration of users was found among young people. This is not just a health crisis; it is an economic crisis and a systemic threat to our nation’s future leadership.

When we look at these numbers, we must refuse to see them merely as data points on a spreadsheet. Every statistic represents a vibrant mind diminished, a family fractured and a potential corporate leader or innovator sidelined. In my journey across the corporate and development sectors, I have learned that systemic challenges cannot be solved by sporadic, emotional reactions. They require structured, intelligent, sustainable, and data-informed ecosystems of change. True change requires us to transition from passive observers to active architects of sustainable interventions.

It was this profound sense of responsibility and strategic foresight that birthed the MTN Anti-Substance Abuse Programme (ASAP) in 2019. We recognised early on that the traditional approach of criminalising substance abuse without addressing the root causes – curiosity, peer pressure, lack of information and socio-economic despair – was a flawed model. ASAP was conceptualised as a multi-sectoral behaviour-change initiative designed to contribute to the reduction of first-time substance abusers in Nigeria.

This year’s World Drug Day theme “The World Drug Problem: Persisting Issues, New Challenges, Innovative Responses” is both a reminder of the complexity of the menace confronting our nation and an urgent call to action. It is clear that only innovative responses can curb the ever-evolving tactics of illicit drug networks. Beyond traditional substances, the world is witnessing a rapid increase in the production, availability and use of synthetic drugs. The commoditisation of prescription medicines has contributed to substance abuse. The inordinate use of technology as an enabler of cybernarcotics has changed the dynamics of the game.

Let me bring this closer home with some numbers. From January 2025 to May 2026, the NDLEA seized 5,305,484.88 kilograms of illicit drugs worth N1.5 trillion through 29,262 arrests. Recently, on May 16, the NDLEA busted a meth manufacturing ring in Ogun State. The scourge is no longer a distant tale: it resides with us. So, we must rise together as stakeholders in this war against substance abuse.

Over the years, the impact recorded through the ASAP initiative is a testament to the power of public-private sector partnerships. Through strategic partnerships with the NDLEA, the UNODC, the Ministry of Education, the Ministry of Health, and various non-governmental organisations, the MTN Foundation has institutionalised the anti-substance abuse advocacy. We have taken the message directly to the frontlines – our schools, motor parks, markets, and digital spaces. By building a coalition of voices, we are demystifying the stigma surrounding addiction, turning what was once whispered in shame into open and constructive community dialogues.

Our journey this year has been marked by a powerful surge of collective action. From stakeholder conferences in Enugu, Kaduna, Kwara and Abuja, to the resonant advocacy walks in tertiary institutions across Gombe, Delta, Abuja and Lagos, the response has been nothing short of extraordinary. The scale of this support – uniting associations, students, and parents alike – is a testament to the urgency and shared commitment driving this movement.

Our interventions have yielded measurable outcomes. To date, the ASAP initiative has directly impacted over 50,433 students and 1,556 teachers across public secondary schools in 32 states and the FCT, through structured anti-substance abuse capacity building initiatives, digital advocacy, peer-to-peer training, and community town halls. By empowering young people to become ambassadors themselves, we have leveraged the power of peer influence positively. We have seen firsthand that when you give a young person the right tools, accurate information, and a sense of purpose, they will choose a path of productivity over self-destruction.

True leadership, however, refuses to rest on yesterday’s laurels; it constantly asks where the next frontier of impact lies and what it requires. It is this restless pursuit of evidence-based and sustainable solutions that culminated in a historic milestone just two months ago, when the MTN Foundation, the United Nations Office on Drugs and Crime (UNODC), and the Office of the Vice President formalised a partnership to undertake Nigeria’s first nationally representative substance abuse survey among secondary school students. At a time when the most widely referenced national substance abuse data is almost a decade old and does not adequately capture the realities of in-school adolescents, this initiative seeks to provide the evidence needed to shape more targeted interventions and policy responses. The collaboration, which drew high praise from Vice President Kashim Shettima (GCON), is a powerful validation of our commitment to Nigeria’s youth and our belief that lasting solutions are built through multi-sectoral partnerships.

As a certified change practitioner, I know that for any behavioural shift to be sustainable, the intervention must be systemic, continuous, and dynamic. This year, our World Drug Day activities have been intentionally scaled up to meet the evolving landscape of substance abuse, particularly the rise of cheaper, highly lethal synthetic mixtures. Our focus this year focuses heavily on the digital ecosystem – leveraging technology to deploy accessible mental health resources, psychosocial helplines, and interactive awareness modules – because that is where our youth live, connect, and learn.

In tandem with our digital drive, this year’s ASAP calendar features high-level policy roundtables, quiz competitions, and grassroot activations across educational institutions. We are deliberately engaging policymakers to ensure that advocacy is backed by robust institutional frameworks. It is not enough to tell our children to say no to drugs; we must build a society that offers them a resounding “yes” to viable economic opportunities, mental health support, and inclusive community spaces.

The universe, as I often like to say, rewards extraordinary effort. The crisis before us is vast, but our collective capacity to innovate and heal is even greater. We cannot afford to look away or assume that this is someone else’s problem. The teenager struggling with addiction in a remote community is tied to the collective economic stability of our communities. Their failure is a leak in our national boat; their recovery is our shared victory.

As we mark World Drug Day, my call to action is to the government, corporate Nigeria, civil society organisations, and every well-meaning citizen: let us move from intent to action by investing heavily in preventive advocacy and psychosocial support structures. Let us choose to know the way, show the way, and walk the way together toward a drug-free, prosperous Nigeria.
Remember, it is everyone’s fight!


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