Nigeria is considered as the giant of Africa because she leads the continent in various sectors. One important sector she has decided to focus on is the iGaming world. Drawing inspiration from the USA, Nigeria hopes to immensely expand her iGaming sector for the next decade.
Available data reveal Nigeria is the second biggest iGaming market in Africa. She surpasses her closest competitor, Egypt, with three times more internet users at 154.3 million. With over 200 million citizens, more than 160 million Nigerians use mobile phones, while over 101.7 million people access the internet on mobile.
Nigeria’s federal government hopes to invest massively in the online businesses. The iGaming industry has over 60 million users although Nigeria has 13 land based casinos. Investment in the iGaming sector will increase tax revenues for the government.
The government is making bold moves by collaborating with reputable iGaming companies. Many leading international companies are eager to join the bandwagon. This is because they notice the exponential growth of Nigeria’s internet gaming world, which could yield tangible return on investment.
In addition, the Nigerian government is working it’s fingers through the bone to provide better internet infrastructure, especially the 5G network. This has attracted reputable investors as many deals in the online gambling sector have been announced over the years. The government is also refining it’s laws to allow gaming sites to operate conveniently.
Taking cues from the USA, Nigeria’ goal is to imitate successful models seen in other markets. Although, USA’s iGaming sector is still young, it generates massive revenues. Nigeria will follow suit in promoting the growth of real money casinos as it’s a proven success in the USA.
However, Nigeria has to be deliberate about eliminating illegal sites. It also has to educate players on how to patronize legal real money casinos.