Here in this post, we are going to give a detailed analysis of the Video Gaming Industry in Nigeria. We hope you will enjoy reading this well-researched article.
Overview of the Nigeria gaming industry
Not many have realized the hidden gold yet to be mined from the Nigeria gaming industry. This is a sector in the Nigeria economy only a few smart investors have discovered the immense potentials it has especially when considering its returns on investment (ROI).
Records have shown a steady increase in the revenue generated by this sector across the years, since its inception.
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One of which was the amazing performance in 2018 where Nigeria is ranked second in the whole of Africa in terms of revenue generated in the gaming business.
Brief historical background
Once upon a time in Nigeria gaming was rather seen as “forbidden fruit.” It is often seen as a distraction to a child’s academic performance since then, much emphasis is laid on how much grades you made as against what we experience today.
In a typical Nigeria home, children were scolded for trying to waste their time on anything but academics; children played with minimal freedom and much restriction.
However, with the growth in technology and civilization, Super Nintendo Entertainment System and the Sega Mega Drives 1 & 2 consoles became the order of the day, ushering in what seemed like an electronic virus that ended up infecting many people with its addiction.
Gameboy, Game Gear, and Lynx came on right along with the former which made gaming an increase in popularity which gave birth to game houses.
Subsequently, games like the PlayStation 1 started dominating the market which led to the further release of the higher versions (2 & 3) of the same gaming console. Xbox 360 was also in circulation.
Different Categories of Video Gaming
The video gaming industry is comprised of different categories people sometimes refer to a genre. These categories tend to place different video games according to some factors like how they are played, what they are used in playing it, and the purpose of playing the game.
However, I will try as much as possible not to bore you with an irrelevant list, as we shall be streamlining everything to the most popular and significant.
In this type of game, the player is required to blow away enemies, objects or hostile figures primarily to survive. They are usually played either horizontally or vertically.
Adventure games are typically designed to satisfy curiosity especially for those with a high sense of inquisition. It is often a mixture of questions, puzzle, and intellectual quizzes that triggers the player to want to get to the end of the game.
Sports have always been an extreme source of human entertainment in the gaming industry. Developers have over the years created series upon series of sports games.
For instance, football video games like the PlayStation and F.I.F.A. series were designed in such a customizable feature where teams, matches, and leagues can be customized by the player to suit their intent.
Some gaming companies, though not common in Nigeria, have ventured into the production of video games that consist of romantic scenes and adventures.
Some have gone as far as making erotic games. These types of the game contain explicit pictures of people playing romantic roles in the gaming session.
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Some Nigeria Gaming Companies
Let us take a brief look at some of the gaming companies making waves in the Nigeria gaming industry. Though this list is not exhaustive, rather a glimpse into the overall Nigeria gaming industry.
Bison Play notable for creating the popular video game known as Mr. Okada, is one of the Nigeria gaming companies making waves in the Nigeria gaming industry. They have lots of their games in the Google Play Store.
Another gaming company making waves in the Nigeria gaming industry is the Yinola gaming company notable for developing and publishing the popular game known as The Anointed: Chronicle of Lafftu. A video game where the player is to defeat all evils using encouragement from the Bible.
Known for their Gidi Run game, Gamsole has been around for a while in the Nigeria gaming industry contributing its quota in the growth and development of the industry.
It has successfully developed and published several video games including the one mentioned earlier. Their products are also on the Google Play Store.
Opportunities in the Video Gaming Sector
The video gaming industry is littered with so many opportunities anyone can actually venture into. It ranges from the elite to the middle class, down to the unschooled level.
You can actually harness any of the opportunities with little or no capital, all it takes is for you to learn a skill in any of the fields and go for it. Below are the non-exhaustive list you can find;
- Software developer
- Audio engineer
- Interpreter/ Translator
- Video game testers
- Sales representatives
How Competitive is the Global Gaming industry?
Competition is a healthy thing for any business enterprise, it is what keeps the market alive, and everyone on their feet. The gaming industry is not left out either.
“The gaming industry has grown by leaps and bounds since the turn of the millennium with advancements in technology playing a huge role in the growth.
Since the era of Game Boy by Nintendo and Snake by Nokia, video games have evolved to become a dynamic form of entertainment appreciated worldwide.
According to David Mack of the World Economic Forum LLC, the gaming industry has improved remarkably from the 90s with the number of gamers in 1995 a mere 100 million compared to the present day figure of 2.6 billion gamers worldwide.”
As demands increase, different gaming companies are upping their games in producing interesting and entertaining games for their customers so as to keep them in business.
How does this affect the Nigeria gaming industry?
With the recent experience the Nigeria gaming industry experienced in 2018, generating $180 million revenue from all kinds of gaming activities placing Nigeria the second in Africa after Egypt who took the first position on the continent making $286 million revenue, foreign attentions have been drawn into the continent.
So many opportunities have been created by investors and business partners from the international business world.
Quoting from a publication from Proshare, it further explains; “For instance, NaijaBillionaire has partnered with international platform providers like Lightmaker lotto who offer payment solutions and Indus net Technologies who develop and provide technical support and digital content.”
Age Bracket to Consider in Setting Up a Gaming Business
For starters, children and teenagers have in recent times experienced constant technological advancement; our kids are exposed to technology at an early stage thereby making them eligible for consideration.
Kids and teenagers are recently doing incredible things with computers, things most adults can hardly do. Children within the range of 5 to 17 fall within these categories.
On the mid-range, the young people are also our major target group since within this range lays the bulky chunk of the entire population that make up the consumers in the gaming industry. Adults between the ages of 18 to 45 are considered the most active players in the industry.
On the back end, however, the older folks are not left out in the game consumption analysis. A recent unofficial survey conducted by me in some selected video gaming centers recorded a high number of old people who mostly fall between the age ranges of 46 to 60 actively involved in the video game activity.
Most of the people who fall within this category are actually in it to make money. It is mostly the gambling section.
Considering these three categories of video game consumers, it is important to pay close consideration to these classes of people especially with their demography in view, even though demography isn’t really a big deal since most monetized video games are played online.
Now that you know, are you thinking of starting a video gaming business or thinking about investing in the sector?
Do you have a skill that can contribute to the Nigeria gaming industry? Why not give it a try, since, from all indications, the gaming business is recently booming and thriving economically. You might end up thanking yourself for taking the step. Share your thoughts in the comment section below.Buy and Sell Bitcoin in Nigeria - Register for free on Luno
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