Lagos Targets 30% Share of Africa's Gaming Market, Create Tourism Master Plan

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By Reporter

The Lagos State Government has created a tourism master plan and policy for the purpose of stimulating the economy. This was disclosed by Babajide Sanwo-Olu, Governor of Lagos recently.

Speaking last Wednesday March 13, 2024, at the Africa Gaming Expo Lagos, the governor said the Africa Gaming Expo is a unique opportunity to review the present industry practices against global best standards and chart a new course for the future of the Gaming Market in Africa, which is currently estimated at $7.8 billion.

He said utilising the potential of the gaming, entertainment, and tourism industries is a component of his administration’s dedication and renewed determination in accordance with the THEMES+ economic agenda.

Sanwo-olu stressed that the public-private partnership (PPP) model is driving the measures, which aim to establish the state as a major participant in the gaming industry.

He explained that it will also boost state’s share of the African gaming market to at least 30 per cent.

“Lagos is indeed well-known for its commercial and political grandeur. It is regarded as the commercial and entertainment capital of Africa and has remained committed to the development of the nation’s tourism sector through entertainment and cultural export across various entities like movie, music, fashion and recently gaming, to mention but few,” the governor said.

“No doubt, we are indeed in the right place. Convening the African Gaming Expo in Lagos could not have come at a better time as it portends to strategically reinforce the State Government’s Development Agenda as encapsulated in T.H.E.M.E.S+ Agenda, specifically the sixth pillar – entertainment and tourism.

“Today, Lagos state is one of the top 10 fastest growing cities in the World, ranks 6th in GDP in Africa and contributes over 25 percent of the GDP in Nigeria. However, Lagos state still needs more support in terms of investment in the entertainment and tourism sector.

“The state has one of the best protocols for ease of doing business. This Expo would provide our partners insight into the investment opportunities waiting to be explored in our entertainment, gaming and tourism industry in the state.”

The governor said the overall objective of the historic gathering of stakeholders and operators, game developers, investment bankers, venture capitalists, government gaming regulators, and other gaming stakeholders across the globe is to discuss and examine the regulatory frameworks, emerging trends, challenges, opportunities, and prospects in the Africa gaming market and the gaming value chain.