Nigeria’s Thriving Gambling Industry: 60 Million Nigerians Gamble Daily, Says Official
Michael Eja, the Director General of the Cross Rivers State Lottery and Gaming Agency, has disclosed that approximately 60 million Nigerians engage in gambling activities on a daily basis. During the unveiling of a new sports betting platform, Woskybet, in Abuja on Friday, Eja emphasized the robust growth of the gambling sector in Nigeria, which is currently valued at an impressive N500 billion to N600 billion.
Eja pointed out that the betting industry across Africa is estimated to be worth around $1 billion. He noted that Lagos state alone generated a remarkable $243 million in revenue from gambling last year, highlighting the industry’s expanding presence. Despite this growth, Eja highlighted that an estimated 90 percent of the market potential remains untapped.
“The gaming industry sells hope, aids in wealth redistribution, and creates jobs in Nigeria,” Eja stated, underlining the industry’s positive contributions to the nation’s economy. He also mentioned that as the government benefits from the revenues generated, there will likely be a significant increase in the financial contributions of the gambling sector to national development.
Nurudeen Idrees, the Interim Director of Operations for Woskybet, reinforced the sentiment regarding the gambling industry as a significant force for job creation among the youth in Nigeria. Idrees described gambling as a game of chance, emphasizing that players may either win or lose.
He assured both customers and the public that their winnings are guaranteed, stating, “When they win, their money is 100 percent assured because their wins are their rights.” Idrees also expressed Woskybet’s commitment to delivering a secure and exciting betting experience for sports enthusiasts across Nigeria.
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