Business
Africa Re grows profit to $132bn on market expansion, new business acquisition

The African Reinsurance Corporation (Africa Re) in the 2024 financial year recorded a Gross Written Premium of $ 1.214 billion,
read more Africa Re grows profit to $132bn on market expansion, new business acquisition
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Business
FG’s ban on foreign goods, testament to re-engineering economy – CSO

Initiative for Leadership Development and Change (ILDC), a Civil Society Organisation (CSO), says the Federal Government’s ban on foreign goods
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Business
Nigeria's Gambling Sector Experiences Online-Driven Growth Spike
Nigeria’s online gambling industry is experiencing a significant surge, driven by increased internet accessibility and mobile phone usage. This growth has transformed betting from a traditional pastime into a mainstream entertainment activity.
Gone are the days when betting meant making regular trips to local shops, often at the expense of time and comfort. Today, the gambling experience has shifted online, allowing users to place bets wherever they are—whether lounging at home or on the go. This digital transformation, driven by Nigeria’s high smartphone usage and growing internet access, has made gambling far more convenient. In fact, top tier casinos and successful affiliate companies like NoDepositKings target such players with exclusive mobile no deposit casino bonuses, which reward users just for playing from their phones, making online platforms an increasingly attractive alternative.
Mobile Technology Fuels a Betting Boom
Over the past decade, Nigeria’s gambling landscape has undergone a dramatic transformation, evolving from traditional betting shops to a dynamic online ecosystem. This shift is primarily attributed to the widespread adoption of smartphones and affordable mobile internet, enabling millions to access betting platforms with ease. Currently, approximately 90% of Nigerian internet users connect via mobile devices, making online gambling more accessible than ever.
The digital revolution has led to a surge in online sports betting, with increasingly sophisticated gambling platforms offering user-friendly interfaces and a wide range of betting options. The convenience of placing bets from anywhere at any time has attracted a new generation of players, further fueling the industry’s growth.
Diverse Offerings Attract a Broad Audience
Online betting platforms in Nigeria have expanded beyond the realms of traditional sports betting to include live betting, virtual sports, and a broad range of casino games such as roulette and blackjack. Being able to offer consumers a comprehensive suite of options means that these operators cater for a wide range of preferences.
However, the real draw of these platforms lies in their ability to offer real-time betting opportunities and a wide range of markets, thereby enhancing user engagement. Additionally, the potential for financial gain through strategic betting has transformed gambling into both a form of entertainment and a supplementary income source for many Nigerians.
Regulatory Landscape and Challenges
Despite the industry’s rapid growth, Nigeria’s regulatory framework for online gambling remains fragmented. While the National Lottery Regulatory Commission (NLRC) oversees licensing, the absence of a unified national policy has led to inconsistencies, with individual states implementing their own regulations.
In November 2024, the Supreme Court nullified the National Lottery Act of 2005, underscoring the need for a comprehensive legal overhaul. To address this, the proposed Central Gaming Bill aims to establish a centralized authority to regulate online and remote gaming, ensuring standardized practices nationwide.
Market Outlook and Future Prospects
The Nigerian online sports betting market is projected to grow at a compound annual growth rate (CAGR) of 6.92% from 2024 to 2028. This growth is driven by a youthful, tech-savvy population and increasing internet penetration. As more international operators enter the market, competition is expected to intensify, leading to enhanced services and more innovative offerings for consumers.

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The leading gambling platforms are poised to capitalize on this growth by continually enhancing user experience, expanding their game portfolios, and adhering to international standards of fairness and security. Their commitment to responsible gambling and customer support further solidifies their position in the market.
In short, Nigeria’s gambling sector is experiencing a significant online-driven growth spike, reshaping the way Nigerians engage with betting activities. The convergence of mobile technology, diverse gaming options, and evolving regulatory frameworks presents both opportunities and challenges. As the industry continues to mature, stakeholders must collaborate to ensure sustainable growth, consumer protection, and the establishment of a robust regulatory environment.
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Business
Lagos council Poll: Derin Phillips to empower youth, promote tech, education

Derin Phillips, an aspirant for the chairmanship seat of the Ikoyi-Obalende Local Council Development Area in Lagos State, has promised
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