The digital revolution has had an impact on almost every sector in almost every country. While the impact of the digital age has managed to reach the vast majority of regions in the world, the strength of its presence has been felt to different extents and has progressed on different timelines. There are a number of socio-economic factors that influence the extent of the growth of the gaming industry in any given country.
The Nigerian gaming industry, including online casinos, is one that has grabbed the world’s attention. This high level of interest is based on the fact that all signs point to it continuing to gain momentum for the foreseeable future. This article has been put together to assess what the ongoing gaming industry trends in Nigeria are, as well as to shine some light on why and how Nigeria’s gaming and online casino industry is booming in the manner it is. So, without further ado, let’s dive into the various elements of why the future looks bright for Nigeria’s gaming industry.
Online Casinos in Nigeria
The Nigerian online casino industry is progressing at a rate that is faster than many could have ever expected. However, this should come as no surprise based on the steady increase in popularity in the gaming industry in Nigeria. Nigeria is home to the biggest economy in Africa, and as a result, both the proliferation of technology and the overall interest in online gaming and casino options have naturally increased.
The ability to simply access online casinos could be said to be the main reason that online casinos are growing in both number and popularity. It is now easy to access the internet in Nigeria, which has allowed any and all online industries to take advantage of the potential of supply and demand.
The combination of easy internet access, a growing number of legitimate online casinos, and extensive information, such as the aforementioned guide, available online has allowed online casinos to become a normal part of online culture in the Giant of Africa.
The Gaming Industry Boom
In addition to online casinos specifically, the gaming industry in Nigeria is on an impressive upward trend. According to projections from Statista, the app-based mobile gaming market in Nigeria is predicted to be worth approximately $126 million by as early as 2023. Nigeria is home to Africa’s highest number of internet users, with over 100 million individuals regularly accessing the internet to play games such as the Aviator crash game.
While these numbers help explain why the online gaming industry in Nigeria is booming, it is worth exploring the factors behind the statistics in order to get a feel of how and why the industry in Nigeria is progressing in the manner that it is. So, let us focus on four of the factors behind the numbers to help explain the phenomena of the booming gaming industry in Nigeria.
Population
While it may seem obvious, the fact that Nigeria is the highest populated country in Africa is one of the main reasons the online gaming industry is progressing in the way it is. As of 2020, the country counts 206 million individuals, whereas Ethiopia, which is ranked second, has 115 million inhabitants. This demonstrates just how big of a country Nigeria is.
While the following factors will delve deeper into why the online gaming industry has been able to take advantage of the number of people residing in Nigeria, the fact alone that the population is as high as it goes a long way to explaining the booming gaming industry.
Technological Access
As mentioned earlier, there are over 100 million active internet users in Nigeria, which once again is the highest number in the continent. Of this number, the majority of users are accessing the internet via smartphones. The proliferation of new technologies has allowed Nigeria’s population to quickly become accustomed to using the internet on a daily basis.
Without wanting to make it too simplistic, the fact that both the internet and smartphones are becoming more and more accessible in Nigeria is clearly one of the main reasons the app-based mobile gaming market in Nigeria is predicted to grow in the manner that it is.
The Element of Youth
In addition to having the highest population in Africa, Nigeria also has the largest population of youth in the world. The country has a median age of 18 years old, with around 70% of the population being under the age of 30 years old.
A youthful and tech-savvy population with ever-increasing access to both the internet and smartphones has helped catapult the Nigerian gaming industry to the position it is in today.
The Economy
The standard of living in Nigeria has led to a situation in which people have more excess money to spend on their pastimes. Moreover, this has resulted in the availability of affordable internet packages and new technologies in general. As a result, the number of online gamers has followed the trend of technology itself and appears to be growing exponentially.
The Bottom Line
The combination of a high and youthful population, the proliferation of new technologies, the availability and ease of access to the internet as well as an improving economy have all contributed to the current state and future potential of the Nigerian gaming industry.
The digital age will continue to open up new possibilities within the industry as a whole, which a youthful and growing population will be more than willing to explore and take advantage of. With access, quality and speed all set to increase, the future of the online gaming industry looks set to go from strength to strength in Nigeria.