PERCEIVED INFLUENCE OF SOCIAL MEDIA IN ECONOMIC DRIVING IN NIGERIA. A STUDY OF TWITTER AND INSTAGRAM

ABSTRACT
This research investigates the perceived influence of social media, specifically Twitter and Instagram, on economic activities in Nigeria. With the rise of digital technologies, social media platforms have become essential tools for business growth, consumer engagement, and entrepreneurial activities. This study explores the extent to which Twitter and Instagram contribute to the development of small businesses, market expansion, and employment generation in Nigeria. Using a descriptive survey design, the study employed a combination of quantitative and qualitative data collection methods, targeting social media users across various sectors such as entrepreneurs, consumers, and influencers. The sample size was determined using Taro Yamane’s formula, and respondents were selected through stratified random sampling techniques. The findings reveal that Twitter and Instagram significantly facilitate business growth by offering cost-effective advertising, promoting consumer engagement, and enabling businesses to expand their reach. However, challenges such as misinformation, data security concerns, and the digital divide were identified as obstacles to maximizing the potential of these platforms for economic activities. The study also highlights the role of social media in fostering youth empowerment and creating job opportunities, particularly within the gig economy. The research concludes that while social media platforms have become key drivers of economic development in Nigeria, addressing existing challenges is crucial for optimizing their impact. Recommendations include enhancing digital literacy, improving data privacy policies, and promoting inclusive access to social media tools to maximize their potential for business growth and job creation.