Lagos, Nigeria’s commercial capital, has its sights set on being the global leader in the gaming industry. Lagos State is working towards becoming a significant player in the gaming sector and achieving a thirty per cent share of the gaming market on the African continent. During the most recent Africa Gaming Expo 2024, which took place in Lagos, Governor Babajide Sanwo-Olu announced this lofty objective.
The gaming sector in Africa has been seeing tremendous expansion over the past few years, and Lagos State is looking to capitalise on this trend. In his speech, the Governor emphasised Lagos’ potential as a gaming powerhouse by highlighting the city’s position as the continent’s fastest-growing city and the sixth-largest economy in Africa.
Developing strategic alliances and contributing to economic growth
Sanwo-Olu emphasised the importance of Public-Private Partnerships (PPP) as a primary force behind this project. Although Lagos has a robust climate hospitable to business, the Governor emphasised that the state needs to make further investments in the entertainment and tourist industries, including gambling. The event was successful by presenting the Africa Gaming Expo as a potential avenue to attract these investments.
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Establishing a highly successful gaming ecosystem
The Governor presented a multi-pronged strategy to accomplish this objective. Among these is the formulation of a comprehensive tourism master plan and a tourism policy. The plan aims to develop the sector into a significant revenue producer and a model for economic rehabilitation comparable to other successful tourism destinations in Africa.
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The city of Lagos is a natural fit for gaming.
Sanwo-Olu emphasised Lagos’s distinctive advantages as a centre for culture and entertainment. The city has a flourishing film, music, and fashion scene and has already established itself as a frontrunner in Africa’s entertainment business. As a natural extension of this creative ecosystem, the Governor believes that gaming is also a natural extension.
A venue for collaboration, the Africa Gaming Expo is now taking place. The Governor expressed his appreciation for the Africa Gaming Expo and its ability to bring together essential stakeholders in the gaming industry. This group includes game developers, investors, regulators, and industry executives from all over the world. Within the African gaming market context, the event served as a forum for the discussion of regulatory frameworks, emerging trends, difficulties, and prospects.
Sanwo-Olu brought attention to the fact that the Expo was centred on “Entertainment, Gaming, and Tourism: A Nexus for Economic Growth.” The state’s economic agenda, in particular the pillar of the T.H.E.M.E.S+ programme that focuses on entertainment and tourism, is well aligned with this theme.
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Establishing a solid base for future development
The Governor recognised Lagos’s current advantages as a destination for business tourism. To emphasise the state’s reputation for having one of the most efficient procedures for conducting business in Africa, he emphasised the state’s reputation. The purpose of this, in conjunction with the Expo, is to introduce the potential for investment within Lagos’s tourist, gambling, and entertainment industries.
Additionally, the welcome address given by Bashir Are, CEO of the Lagos State Lotteries and Gaming Authority, is mentioned in the piece. We want to show our gratitude to the Governor for his dedication to updating gaming rules by utilising technology and industry standards. The Expo itself was conceived of as a forum for the exchange of ideas and the promotion of collaboration to mould the future of gaming in Africa and to set consistent industry standards across the continent.
The city of Lagos intends to strengthen its position as a leader in the rapidly expanding gaming business in Africa by capitalising on its assets, cultivating partnerships, and implementing a strategic development plan.