How many Nigerians place bets daily? Staggering figures have been revealed

Michael Eja, CEO of Cross River State Lottery, shared insights into the scale of gambling in Nigeria and its contribution to the country’s economy.

Details: Speaking at the launch of Woskybet in Abuja yesterday, Eja revealed that approximately 60 million Nigerians place bets daily.

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In terms of revenue, Nigeria's gambling industry currently generates between 500 and 600 billion Nigerian naira annually.

Quote: "Over time, you'll witness an increase in the revenue the gaming industry will generate for nation-building. In Nigeria, we’re currently pulling in around 500–600 billion naira a year. The country’s population is around 150 million, and from the data we have, we know that about 60 million Nigerians gamble daily. Do the math. We haven’t even tapped into 90 percent of the market."

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He also mentioned that Africa's betting industry is currently valued at a staggering $1 billion, adding that a significant portion of this revenue comes from Lagos State, which alone generated $243 million in 2023.

Additionally, Eja noted that the Nigerian federal government will collaborate with state lottery agencies to integrate gambling operators into the tax network, aiming to increase the state’s revenue.