The Director of Cross River State Lottery and Gaming Agency, Michael Eja, has revealed that approximately 60 million Nigerians across the country engage in gambling on a daily basis, News About Nigeria reports.
Eja made this known during the launch of a new sports betting platform, Woskybet, in Abuja on Friday.
While speaking about the betting industry, the director emphasised the booming nature of the gambling industry in Nigeria.
He also disclosed that the gambling industry in Nigeria is currently valued between N500 billion and N600 billion.
He, however, noted that despite the industry’s rapid growth, 90% of the potential market remains untapped.
He said, “The betting industry is worth about $1bn in Africa. Lagos state alone generated $243 million in revenue last year. So, gambling is coming up huge. And people are beginning to understand the essence of gambling. In Nigeria, presently, we are doing over N500bn to N600bn in revenue. If I am not mistaken, we have over 150 million people in the country. And presently, from the statistics that we have got, we know that about 60 million Nigerians gamble daily. We’ve not captured 90 per cent of that market.”
Eja further highlighted the benefits of the gambling industry, including its contributions to wealth redistribution, job creation, and revenue for the government.
“The gaming industry sells hope, aids in wealth redistribution, and creates jobs in Nigeria. The government also benefits from the revenue generated by the industry. Over time, we will see an increase in the revenue that the gambling sector contributes to nation-building,” he stated.
