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Youth Unemployment: A Driver of the Igaming Industry in Nigeria

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Across Africa, online gambling has become a big deal with many igaming companies rolling out operations in different parts of the continent.

Youth Unemployment: A Driver of the Igaming Industry in Nigeria

In countries like Nigeria, South Africa, Ghana, Kenya and more recently Uganda and Zambia, more betting companies are springing up to tap into what is considered an untapped market for igaming.

While all these countries have made some varying degree of advancement in establishing a virile gambling industry, some have enjoyed more success when compared to other countries.

For example, Nigeria boasts one of the biggest markets in Africa for a number of reasons. The demography, vast population and an unparalleled love for sports make the country a fertile ground for igaming investments.

Currently, it is estimated that one in three individuals that fall within the youth bracket are actively involved in sports betting and they see it as a means of escaping poverty.

Nigeria has a unique population. Around 70% of her 217 million people are youths.. To put it in perspective, that percentage translates to about 151 million people.

However, the sad reality is that a large chunk of Nigeria’s youth population is affected by worsening unemployment.

It has been reported that youth unemployment in Nigeria stands at about 40%. Worse still it is projected to get worse, with the global economic crises.

With all the economic challenges, growing unemployment, gloomy forecast and a lack of social safety measures, it is not hard to see why many young people are resorting to sports betting.

As it stands, there are millions of youths in Nigeria who view online betting as the last hope of getting by and meeting their daily expenses.

The venture is now so popular that there is a strong community of punters and bettors on the different social media platforms like Twitter and Facebook, where betting codes and tips are shared.

A regular bettor, Friday John who resides in Lagos claims he uses his winnings from sports betting to offset bills.

‘Na betting I take dey hold my sef. I Dey take codes for Twitter and play. Sometimes, I win, and sometimes I lose. If not for betting, things for really bad for us.’ He stated in the Pidgin language.

He continued: ‘For example, me I be Bricklayer, but we no dey see job because people no get money to build anything again’

No doubt, unemployment  is a major factor that has contributed to the growth of online sports betting which currently divides opinions in Nigeria.

Even more people are projected to turn to sports betting with the biting economic hardship.

The penchant of young Nigerians to try their hands at online gambling for a life changing win is not lost on the betting companies, and they are making their offers more attractive.

The list of betting bonuses available to players in Nigeria is growing everyday and they are at liberty to choose any of the mouthwatering that gets them hooked more often than not.

One wonders if there will be a sharp decline in the number of persons who actively partake in online gambling if the Nigerian economy makes a turn for good.

Or could unemployment be just a screen smoke to a much deep -seated  problem that has eaten deep into the fabric of Nigerian society.


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Nigeria CommunicationsWeek believes that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. So since 2007, we have devoted our energy to independent reportage of technology and how they affect lives.

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Innovantics Bags Best Biometric Banking Solutions of the Year Award @ ABoICT 2024

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Innovantics Limited, end-to-end custom-built software solutions provider, has won the best biometric banking solutions of the year award at this year’s Africa Beacon of ICT (ABoICT) Awards held in Lagos at the weekend.

Innovantics Bags Best Biometric Banking Solutions of the Year Award @ ABoICT 2024

The biometric banking solutions was implemented by Innovantics for UBA, Africa’s pan-African bank to solve difficult business problems.

At the award ceremony organized by Communication Week, publishers of Nigeria CommunicationsWeek, Innovantics was commended for its biometric authentication, facial recognition solutions.

The Africa’s Beacon of ICT Merit Awards Series is widely regarded as the most prestigious annual event available in the ICT industry in Nigeria.

This year, the theme “Artificial Intelligence (AI): The Good, The Complex and The Anticipated” and it drew top politicians and government functionaries as well captains in the ICT industry as well financial institutions

Commenting, Ken Nwogbo, editor-in-chief and founder, Nigeria CommunicationsWeek, said that that the award will provide Innovantics with encouragement to continue to deliver and sustain more innovations.

In accepting the award, Thomas Ashi, co-founder and Digital Transformation Lead at Innovantics, who led the implementation for UBA, said that “we are also focused on positioning Innovantics, as a prominent player in the solutions space. Offering specialised and customised solutions across our coverage areas.”

Armed with bachelor’s degree in Physics from the University of Calabar, and an MBA from the Lagos Business School, as well MSc in Data Science and Analytics from the University of North Carolina, Charlotte, USA, Ashi said “Our future depends on us, so let’s build it together”

Ashi over 17 years of working experience included a one-year stint with Shell Petroleum Development Company of Nigeria where he participated in the Shell Intensive Training Program for graduates, popularly known as SITP/1, specializing in Information Technology.

Afterwards, he spent two years with the Catholic Institute of West Africa, Port Harcourt, as a Systems Administrator, where he set up the school’s Wide Area Network and Internet Access, before proceeding to work for Diamond Bank Plc.

For more than 12 years, his roles in the Bank’s IT department span, Software Development, Business Process Engineering, Business Analysis and Project Management. While in Diamond Bank, Ashi was credited for developing the first local global trade solution for the Bank’s International Trade Business, a Money Market Solution, an IT helpdesk platform, and a host of other solutions. He also pioneered the implementation of a Business Process Management platform for the Bank which accelerated the bank’s retail expansion by over 1000%.


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Tapswap Server Reportedly Breaks Down Due to Overcrowding from Nigeria

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TapSwap, a well-known cryptocurrency platform where users can engage in games to accumulate coins for later conversion into actual currency, has allegedly experienced a malfunction.

Tapswap Server Reportedly Breaks Down Due to Overcrowding from Nigeria

This information came to light through a series of social media posts discussing the platform’s current status.

Online posts have pointed out that TapSwap is presently undergoing maintenance and has become inaccessible due to a breakdown caused by excessive traffic.

Several users affected by the disruption have shared screenshots of notifications from TapSwap explaining the cause of the breakdown and subsequent maintenance.

Reacting to the post:

@Jessicalevi13: “TapSwap server always going down, lol. The only thing I see is Tears Loading.”

@CryptoDefiLord: “With the large numbers of people coming into #TAPSWAP every day, the team should be adding more servers to accommodate all these people. @tapswapai is the leading tap tap token on Telegram and shouldn’t be having such problems.”

@connectwithtola: “#TapSwap is overcrowded! Kudos to every Nigerian out there on TapSwap, we took this project mainstream 👏 I hope other projects are ready for us? We have so many powers 👹 to unleash heavily.”

 


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CITAD Launches Artie Robot, Coding Training of Girls in Kano

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Centre for Information Technology and Development (CITAD) has initiated an Artie Robot and coding training programme tailored for young girls in Kano State.

CITAD Launches Artie Robot, Coding Training of Girls in Kano

CITAD officials training girls at the event

This programme, designed to empower young female students is set to benefit 30 participants across three public secondary schools in its initial phase, as the official launch took place at Government Girls Secondary School Dorayi Karama.

Speaking at the event, Engineer Yunusa Zakari, executive director, CITAD represented by Buhari Abba, highlighted the programme’s objective to enhance the technological and coding skills of secondary school students.

He emphasised the importance of equipping young girls with the necessary skills to pursue careers in the rapidly evolving field of information technology.

Abdulrahman Babatunde, technical officer of Innovation and Creativity at CITAD, stressed the increasing relevance of coding and robotics skills for students, underscoring that learning to code opens up opportunities for innovation and empowerment.

Dr Kabiru Ado Zakirai, executive secretary of the Kano State Senior Secondary Schools Management Board (KSSSMB), noted the historical underrepresentation of women in STEM fields and expressed optimism that early exposure to robotics and coding could ignite a passion for these subjects among girls, paving the way for exciting career prospects in the future.

Malam Umar Yakasai , representing Dr Zakirai, urged students to leverage the knowledge gained from the programme to foster self-reliance.

Participants, including Maimuna Shu’aibu and Fatima Bashir, shared their learning experiences, highlighting various skills acquired, such as utilising robots for tasks like painting, drawing, and writing.


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