Football is a national obsession in Nigeria.>> Come on, Nigeria!>> And betting on the outcome of football games is increasingly popular. So much so, that industry experts estimate that sports betting, with football in particular, generate around a billion dollars a year. My name is Alexis Aqujeron, I am the Routers Nigeria Bureau Chief and I'm reporting from the commercial capital, Lagos.
Nigeria has Africa's largest population, there's 119 million people, and a very young population. The UN estimates that the median age in this country is 18. Now if you put those factors together, betting companies are increasingly see a scope for growth. Over the last two years, there has been a change in the payment infrastructure here.
So that have been a number of new Silicon Valley funded companies, I'm thinking of Paystack, and Flutterwave as well, which has increased the speed at which people can make payments and receive payments. Mobile phones are increasingly ubiquitous and the cost of data's come down, which has increased Internet penetration, so we're seeing more and more growth when it comes to online betting.
That said, there is still a stigma in some people's eyes of being seen in a betting shop. But you can see the popularity of betting in this country because you've got companies like Bet9ja and 1960Bet. And they are springing up everywhere. So even on a weekday like this, you will find that people are here, betting.
Because some people like the social aspect. They like to be in a social hub where they can see the TV being played. They can see football games going on. And they can also queue up and see other people.