Nigeria lost $23.8 million to foreign domain names purchase

As comfirmed by NiRA(Nigeria Internet Registration agency), in the last five years or so, the poor attitude of most Nigerian websites owners of buying foreign domain names, such as .com, .net or .org instead of .ng. has cost the nation to lost 3.76 billion Naira(about $23.8 million).
From what the Punch report, in the next five years, the figure will greatly increase if Nigerian website owners fail to purchase .ng domain name.
It only cost 5000 Naira($31.6) to own a domain name.