Bashir Are Highlights Nigeria’s Gaming Sector as Promising Horizon for Global Investors

GamingWeek

Farooq Hassan draws attention to an assertion by Mr. Bashir Are, Chief Executive Officer of Lagos State Lottery and Gaming Authority, highlighting Nigeria’s strengths, particularly in land-based gaming activities, where it ranks second only to South Africa, and in other gaming categories, where it leads the continent. He reiterated that serious investors should consider Nigeria, particularly Lagos, a prime investment destination.

In an era where nations are vying for foreign investments, Nigeria stands out as a beacon of opportunity, particularly in the burgeoning gaming industry. This was underscored by Mr. Bashir Are, the Chief Executive Officer of the Lagos State Lotteries and Gaming Authority, during his recent engagements at two prestigious international events. At the 41st annual International Gaming Summit, held at the Ritz-Carlton in Washington, D.C., from May 28-30, 2024, Are showcased Nigeria’s growing influence and potential as a premier destination for gaming investment.

The summit, organised by the International Association of Gaming Advisors (IAGA), brought together industry leaders from around the world to discuss regulatory challenges, trends, and innovative solutions. Are, who also serves as the Chairman of the Federation of State Gaming Regulators of Nigeria, participated in the international regulatory roundtable alongside notable figures such as Ben Haden, President of the International Association of Gaming Regulators, Jason Lane, Chief Executive of the Jersey Gambling Commission, and Atle Hamar, Director General of the Norwegian Gambling and Foundation Authority.

Are’s participation underscored Nigeria’s commitment to creating a conducive environment for investors in the gaming sector.

He emphasised that Nigeria offers a fertile ground for all stakeholders in the gaming ecosystem, including software developers, payment service providers, and game developers, to invest and reap substantial returns. His message was clear: Nigeria, especially Lagos, is open for business, with a regulatory framework designed to facilitate rather than hinder investment.

Beyond the summit in Washington, Are also represented Nigeria at the Gaming Tech Summit in Nairobi, Kenya. This conference, which attracted gaming regulators across Africa, highlighted Nigeria’s leading position in the continent’s gaming sector. On a panel discussion about market trends, Are elucidated Nigeria’s strengths, particularly in land-based gaming activities, where it ranks second only to South Africa, and in other gaming categories, where it leads the continent. He reiterated that serious investors should consider Nigeria, particularly Lagos, a prime investment destination.

Are also addressed the issue of regulatory bottlenecks, acknowledging the existing tussle between federal and state authorities over regulatory control. However, he expressed confidence that this issue would soon be resolved, ensuring a harmonious regulatory environment that aligns with global best practices. His advocacy for a balanced regulatory framework aims to protect investors while fostering industry growth.

The summit provided a platform for Bashir Are to reiterate Nigeria’s readiness to welcome stakeholders from the gaming ecosystem, including software developers, payment service providers, game developers, and investors. He emphasised that Nigeria, and Lagos in particular, offers a fertile ground for investment with promising returns. The regulatory environment in Nigeria is designed to support business growth, minimising unnecessary bureaucratic hurdles while ensuring responsible gaming practices.

Further highlighting Nigeria’s prominence in the African gaming landscape, Bashir represented the country at the Gaming Tech Summit in Nairobi, Kenya. This event gathered regulators from across the continent to discuss the state of the industry. On a panel discussing the market snapshot, Bashir pointed out that Nigeria, second only to South Africa in land-based gaming activities, leads the continent in other gaming categories. He encouraged investors to consider Nigeria as their primary destination in Africa, citing Lagos as the leading market within the country.

Bashir’s contributions at the summit were significant. He spoke on responsible gambling initiatives and outlined the efforts of the Lagos State Lotteries and Gaming Authority, which include the development of a punters’ self-help portal, partnerships with NGOs to prevent underage gambling, and responsible gambling campaigns integrated into Lagos’ transport infrastructure.

In conclusion, Nigeria is poised to become a significant player in the global gaming industry. With a solid regulatory framework, a growing market, and a commitment to responsible gambling, the country offers a compelling investment opportunity for stakeholders. As Are aptly put it, “Nigeria remains a solid ground for all stakeholders…to invest and get returns on their investments.”

He added, “The Lagos State Lotteries and Gaming Authority, under Bashir’s leadership, has demonstrated a commitment to responsible gambling and corporate social responsibility. We urge investors to take advantage of the opportunities Nigeria offers and support the country’s growth in the gaming industry.

“As Nigeria continues to evolve as a gaming hub, we expect to see more innovative solutions, job creation, and economic growth. We are confident that with the right regulatory framework and investment, Nigeria will become a shining example of a sustainable and responsible gaming industry in Africa.”