Factors Causing the Growth of the Nigerian Gaming Market
In the last couple of years, more and more young (and old) residents of Nigeria have been interested in participating in the gaming industry. Games have been, for a long time, a source of entertainment for youngsters. However, it turned out that the gaming industry can also ensure a decent profit for every individual passionate […]
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In the last couple of years, more and more young (and old) residents of Nigeria have been interested in participating in the gaming industry. Games have been, for a long time, a source of entertainment for youngsters. However, it turned out that the gaming industry can also ensure a decent profit for every individual passionate about different games.
In the rest part of the world, especially in the west and south-east of Asia, gaming and iGaming industries experienced huge popularity many years ago. This trend has gotten to Nigeria a bit later. However, as this market is huge, that means it has a huge potential to grow in the future.
In this article, we would like to highlight all the factors causing the growth of the Nigerian gaming market. These factors actually explain to people that the same trend will continue in the future years. They are:
- Diversity of games;
- Low median age;
- More internet users;
- More smartphone users;
- A huge number of gaming influencers;
- Support of the government and responsible authorities;
- Source of Fun;
Let’s explain each of these factors!
You Can Find a Diversity of Games on the Best Sites
The first reason why gaming has become too popular is the diversity of options that people can find on the market. In some moments, it can even be tough to find the most suitable games for your needs. Because of that, it would be smart to look for the best possible place to find some answers.
For example, experts at bestcasionsites.com analyze the best casino sites in Nigeria. On the other hand, you can find a significant number of gamers (influencers) on YouTube and other streaming platforms that regularly review different games. It would be good to check them as well to get certain information. Based on your personal preferences and tastes, you will easily determine which game is most suitable for you.
Low Median Age
We do not want to say that gaming is not for older people. You can find a lot of people older than 40 enjoying games. But, when you check out the audience that is regularly following gamers on different social media, you will notice that most of them are pretty young.
Youngsters are those that boost the popularity of this industry. Did you know that the median age in Nigeria is 18.1? In other words, Nigeria has one of the youngest populations in the world. That only confirms how huge potential the gaming industry in this country has. All the youngsters will probably keep the same passion in the further period. That is the reason why we believe this trend will not change soon.
The Number of Internet Users in Nigeria is Growing
The number of internet users in Nigeria is rapidly growing. That only confirms that more and more people within the country have access to a wide range of games. According to one research, around 36% of people in Nigeria have access to the internet. Some people will probably say this number isn’t big. However, let’s pay more attention to the availability of the internet in the previous years:
- 2000: 0.1%
- 2005: 3%
- 2010: 11.5%
- 2015: 24.5%
- 2020: 35.5%
As you see, the number of internet users has grown by 36% in only 20+ years. Best of all, the same trend probably won’t stop. According to Statista, Nigeria will have around 118 million internet users by 2027.
Can you imagine how huge the demand already is and how huge it will be in the future? For many entrepreneurs, 118 million people in one place represent a huge opportunity to establish growth. That is the reason why we assume more and more investors will come to invest in the gaming field.
More Smartphone Users
Purchasing a PlayStation 5 or a gaming PC isn’t affordable at all. Only a small percentage of people in Nigeria can afford that. That was a huge barrier for people that wanted to participate in the gaming industry. Fortunately for them, the smartphone brands have started to invest in the Nigerian market which automatically made smartphones more available to the locals.
Currently, the numbers are already amazing. One research confirmed that between 30 and 40 million people in Nigeria are currently owners of a smartphone. But the same source confirms that the number of smartphone users in the next 3 years will jump to 143 million! All these people will have the chance to participate in the gaming industry. They will get the opportunity to play different games from any location.
The data we shared with you only confirm that the number of smartphone users is already big. However, if the predictions become reality, Nigeria will be one of the countries with the biggest number of smartphone users. In other words, it has the potential to become one of the countries with the biggest number of gamers!
A Huge Number of Gaming Influencers
The popularity of gaming didn’t appear itself. There were certain individuals that made it popular among people. Today, you can find a huge number of gamers that share content on different platforms such as Instagram, YouTube, Twitch, etc. Some of them are in Nigeria while others are in different parts of the world.
As we said, more and more people have the internet at home. Because of that, people, especially youngsters, have the chance to follow those influencers. Their influence certainly changes the habits and way of thinking of youngsters. They soon realize how gaming can be fun which automatically improves the popularity of this industry.
Support of Government and Responsible Authorities
We have to admit that the entire industry has gotten the necessary support from the responsible authorities in Nigeria. The government recognized the potential that this business field has. Plus, they have become the largest and strongest market in entire Africa. The government has invested in the technological progress of the industry. Because of that, more and more people have the chance to experience a more dynamic and entertaining experience while playing games.
But these investments are not just suitable for consumers and gaming enthusiasts. They are also good for local and foreign entrepreneurs that want to invest in this industry. The support of the government attracted many gaming companies to offer their services to the audience. Running a gaming business under those conditions is great which automatically means the offer is higher than before. The offer is followed by the huge demand of customers that want to play games. That’s how a functional market looks!
Source of Fun
One factor that does not have anything in common with finances, economy and technology also influence gaming in Nigeria. People just want to have during the day. Sometimes, they do not have the desire to go out and hang out with people. Instead of that, they would rather stay home, and games can make their free time more entertaining.
Games have become one of the main sources of fun for people in Nigeria. People can communicate while playing games thanks to the internet which has become more available to them. Also, they can relax, compete, or simply forget about all the problems they have for an hour or two.
Source of Income
We must not neglect that gaming has become one of the most profitable industries in the world. Competitions and tournaments are organized around the world. However, in the last 10 or 15 years, people can win cash prizes if they show that they are good.
Young people who love games recognized a good opportunity to make money and have fun at the same time. Logically, that increased the demand for gaming products and services.
Conclusion
As you see, there are many factors that influence the growth of the Nigerian gaming market. Based on the statistics we shared with you, it seems that the same trend won’t stop. Gaming will become more and more popular over further years. Fortunately, that will attract new gaming businesses which guarantees a better gaming offer for the locals.