Lagos State Government has promised to leverage more on Tourism, Entertainment and Gaming as a nexus for economic and social development.
Gov. Babajide Sanwo-Olu said this at the maiden edition of the 2024 Africa Gaming Expo (AGE) on Wednesday, at Eko Hotel and Suites, Victoria Island.
The expo, organised by the Lagos State Lotteries and Gaming Authority, has as its theme: “Exploring the Future of the Africa Gaming Market: Emerging Trends, Prospects and Opportunities”
“It’s apt and speaks directly to the key objectives which the Expo is set to achieve, against the backdrop of the relatively nascent nature of the industry in Africa,” he said.
The governor said the overall objective of the historic gathering of stakeholders and operators, Game Developers, Investment Bankers, Venture Capitalists, Government Gaming Regulators, and others across the globe was to discuss and examine the regulatory frameworks.
He said it would also discuss emerging trends, challenges, opportunities, and prospects in the Africa Gaming Market and the gaming value chain.
“It will also provide a unique opportunity to review the present industry practices against global best standards and chart a new course for the future of gaming market in Africa, which is currently estimated at 7.8 billion dollars.
” For us in Lagos State, as an emerging smart city, the sub-theme of the Expo – ‘Entertainment, Gaming and Tourism: A Nexus for Economic Growth’ would appear more germane as it speaks to the integral part of the State’s economic agenda and priorities.
“Lagos, known for its commercial and political grandeur, is regarded as the commercial and entertainment capital of Africa and has remained committed to the development of the nation’s tourism sector.
“This is through entertainment and cultural export across various entities like movie, music, fashion and recently gaming,” he said.
The governor said that the gaming expo was in line with the state’s government agenda of T.H.EM.E+.
“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.
“As part of our commitment and renewed determination to leverage the potentialities of the gaming, entertainment and tourism sector, the state government has re-calibrated the thrust of tourism through the development of a Tourism Master Plan and Tourism Policy.
” It is designed to make the sector not only a huge revenue earner but a model for economic regeneration as we have seen in cities such as Zanzibar, Johannesburg and Cape Town.
“These initiatives aim at increasing our share of the African gaming market to at least 30 per cent, and solidifying our status as a key player in this rapidly growing industry,” Sanwo-Olu said.
The governor said that Lagos State, one of the top ten fastest growing cities in the World, ranked sixth in Gross Domestic Product (GDP) in Africa and contributed over 25 per cent of the GDP in Nigeria.
“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.
“I’m excited to learn that the various speakers and panelists at this conference are not only industry experts, leaders and operators, but they are drawn from all over the world. giving global insights and perspectives to the conversations that will take place at this conference,” he said.
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The Director General of Lagos State Lotteries and Gaming Authority, Mr Bashir Are, in his opening remarks, said the essence of the expo was to ensure that the best practices are in place.
He said the expo was to enlighten gamers that they could get creative and build their own games.
“We need to encourage our games that they can build their own games too and earn like their foreign counterparts.,” Are said. (NAN)
