Lagos eyes 30% share of Africa’s gaming market

Lagos State, Nigeria, is positioning itself to capitalize on the booming gaming market in Africa, driven by increased internet connectivity, smartphone adoption, and high bandwidth network connectivity like 5G. In a recent interview on CNBC Africa, Bashir Are, the CEO of Lagos Lotteries and Gaming Industry, shared insights on Lagos State's ambitious plans to become a dominant player in the African gaming industry. Are highlighted the immense growth potential of the gaming sector, projecting a global industry value of $449 billion by 2023. Lagos State aims not only to be a consumer but also a significant service provider in the gaming market, leveraging its broadband technologies, youth population, and technology corridors to develop and export gaming products and content. One of Lagos State's strategic initiatives to drive its gaming ambitions is the establishment of partnerships and collaborations with global gaming hubs like Malta and Las Vegas. Are emphasized the importance of learning from advanced gaming markets and fostering cooperation in innovations, regulations, and enforcement. By engaging with international gaming regulators and organizations, Lagos State is positioning itself as a key player in the global gaming ecosystem. Furthermore, Lagos State is actively courting investments in the gaming sector to support ancillary services such as payment processing, software development, advertising, blockchain, and cryptocurrency. The African Gaming Expo, hosted in Lagos, serves as a platform to attract investors and showcase the vast opportunities within the gaming industry, estimated to be worth over $100 billion in allied services alone. In line with its expansion strategy, Lagos State is planning to establish a world-class eco-resort and casino in Badagry, a strategic gateway location. The eco-resort is envisioned to host a myriad of entertainment events, sporting activities, conventions, and e-sport tournaments, tapping into the diverse revenue streams associated with the hospitality and gaming sectors. Are also underscored the importance of incorporating local content and talent in Lagos's gaming initiatives, emphasizing the potential for income generation and economic growth. By creating products for the global market and leveraging Nigeria's position as a burgeoning e-sport destination, Lagos State aims to showcase the rich cultural and entertainment offerings of the region to a global audience. The CEO of Lagos Lotteries and Gaming Industry highlighted the upcoming African Game Expo scheduled for February 2027 in Lagos, Nigeria, as a pivotal event to promote the gaming sector and facilitate networking opportunities. With a growing international presence and robust partnerships in place, Lagos State is poised to capture a significant share of Africa's gaming market, driving innovation, investment, and economic development in the region.