Nigeria is a thriving country, with a forecasted GDP that’s expected to continuously increase between 2023 & 2028 by in total to 292.1 billion U.S. dollars. In 2022, agriculture contributed around 23.69 percent to Nigeria’s GDP, 30.78 percent came from industry, and 44.04 percent from the services sector.
Nigeria’s youth constitute a significant portion of the country’s workforce, with a population expected to reach 250.83 million by 2028. In 2022, demographic data showed that youths aged 0-14 years accounted for 43.04%, those aged 15-64 years made up 53.98%, and individuals aged 65 years and older represented 2.97% of the population. This demographic structure underscores the importance of addressing gambling trends among young people, especially considering their passion for sports. As such, we are driven by a commitment to curbing excessive gambling habits and preventing underage gambling among adolescents.
Gambling & Betting sector in Nigeria is relatively wide, valued at over $2billion as of 2020 with over 60 million Nigeria between 18-40 spending $5.5 Million daily on various products, and BET9JA being the second most visited website in Nigeria. The reason for this feat is not far-fetched, as of 2023, there were almost 64 million mobile internet users in Nigeria, very much strengthened by the availability of inexpensive smartphone penetration. It’s projected that by 2029 the figures would rise to 184.79 Million.
Research indicates that gambling is associated with various negative socio-economic consequences, such as instability in personal or family income, leading to distress, strained family relationships, trust issues, health problems, and increased crime rates. According to a study conducted by Aguocha et al. in 2018, which focused on secondary schools, it was found that 57.2% of school-age children had engaged in gambling at least once in their lifetime, with 77.6% of them gambling within the past year. Furthermore, 58.3% of these respondents reported having unrestricted access to gambling facilities, including makeshift kiosks for football betting, where children are also employed.
Nigeria and Africa are rising from their complex historical legacies, filled with both achievements and untapped potential. The youth, in particular, hold the key to unlocking this potential. GAMSAFE INITIATIVE advocates for a safer gaming and gambling environment, where these activities are viewed as forms of entertainment rather than quick paths to wealth. Central to this vision are well-defined policies that govern the industry, informed by thorough research that considers the interests of all stakeholders.
We are committed to actively engaging in research efforts, bridging the gap between our practical aspirations and the exploration of new possibilities. Through this approach, we aim to generate innovative solutions that contribute positively to the sector’s development. Stay tuned for our forthcoming white paper, where we will delve deeper into these topics.