Economy
Stock Trading Versus Sports Betting; The Differences and Similarities
By Samuel Ighoyota Akporhiunuvwiyo
There is a growing population of betting companies in Nigeria. This is a result of increase in the number of betters in Nigeria. At a time in the country, it was only just pool betting, but as of today, we have seen a rise in the number of betting companies; the likes of Nairabets, Bet9ja, Accessbet, Blackbet, etc come to mind.
It is a common belief by betters that betting is a good way of raising money or getting additional income to solve their financial needs. To some, this is correct, while to others, this is far from the truth.
What is Sports Betting
According to Wikipedia, sports betting is the activity of predicting results of sporting activities and placing a wager on the outcome. The frequency of bookmaking varies by culture, with the vast majority of bets being placed on football also known as soccer, American football, basketball, baseball, hockey, track cycling, auto racing, mixed martial arts, and boxing at both the amateur and professional levels.
Sports betting can also extend to non-athletic events, such as reality shows and political elections, and non-human contests such as horse racing, greyhound racing, and illegal, underground cockfighting. It is not uncommon for sports betting websites to offer wagers for entertainment events such as the Grammy Awards, the Oscars, and the Emmy Awards.
What is Stock Trading
Stock trading is the buying and selling of shares of companies on a regulated platform like the stock exchange.
At the stock market, owners of a certain company’s equities look for willing buyers, with the different bodies earning certain percentages as commission for the transaction. These shares are traded for various reasons, depending on the prevailing conditions when the trading took place.
For example, when in need of funds to sort out an urgent obligation, you could place an order to exchange your shares for cash and this could come at a loss to the seller. In another way, an information like the recent from Dangote Flour and Forte Oil could trigger the demand for a company stock, which will result in the price going up. For willing seller who bought at a relatively cheap price, it could be time to take profit.
Similarities Between Sports Betting and Stock Trading
Sports betting and Stock Trading exhibit some level of similarities and one of them is the Skill Based Gambling
In as much as there is a slight difference between stock trading and sports betting, they both carry a potential for gains and losses. This means they both manage some level of risk, gambling, and predictions. They both require a level of research too, although, methodology differs.
Comparative Returns
They both exhibit potentials of a favourable return on investment, although, sports betting typically involves several losses followed by a big return of 100 percent or more or less. Whether this covers the cost of all lost bets depends on a specific situation, but average performance produces approximately a 5 percent loss over time. Returns also depend on the risk appetite of the player.
Differences Between Sports Betting and Stock Trading
One of the major differences between the two forms of ‘investment’ is that while stock trading is normally carried out during working days, sports betting can extend to non-working days, including public holidays.
Another difference is about legality. While stock trading is legal in almost every country and backed by law, the same is not with sports betting, which is illegal in some countries.
A Rigged Game
One major difference between sports betting and the stock trading is the way the professionals make money. Publicly traded companies make money by doing business. As they get wealthy, their investors also reap benefits in form of dividend payment usually paid at the end of a financial year. Some companies also pay what is called interim dividend, which is paid before the end of the fiscal year.
But for sports bookies, they make money when people lose bets. They set the odds specifically to make people lose more money overall than they win. This is one of the key reasons only one of these practices is legal throughout the United States, Although, betters can avoid or reduce this by lowering their risk appetite. The higher the odd the riskier the bet.
Another big difference between sports betting and stock trading is that the former is highly addictive. It is often said that there is ‘an evil spirit’ attached to sports betting, which make betters sell their belongings to place bets with the hope of winning big.
Having highlighted the similarities and differences between sports betting and stock trading, it is advisable for the growing population of Nigeria to explore the opportunities in trading in the Nigerian stock market because it is less risky than sports betting and is also more regulated.
By Adedapo Adesanya
The chief executive of HBM Nigeria Plc (formerly Lafarge Africa), Mr Lolu Alade-Akinyemi, said the cement producer is expected to add 4.5 million tonnes to its production capacity by January 2027.
HBM Nigeria Plc is positioning itself for stronger long-term competitiveness, market leadership and job creation as it accelerates expansion projects.
The transition to HBM Nigeria marks a new phase of growth, driven by operational excellence, sustainability, innovation, and infrastructure development, while maintaining its long-standing commitment to Nigeria’s construction sector.
Mr Alade-Akinyemi, speaking recently in Lagos, said the ongoing expansion of the company’s Ashaka and Sagamu plants would significantly boost local production, create employment opportunities, and support businesses across its value chain.
“We recently announced the expansion of the Sagamu plant in Ogun State and the Ashaka plant in Gombe State. Hopefully, in January 2027, we will commission both plants, adding 4.5 million tonnes to our capacity. Traditionally, building a new plant takes about three years, but this is one of the benefits of belonging to the Huaxin Group,” he said.
According to him, the projects will generate employment, create opportunities for young people and women, strengthen local suppliers and contractors, and contribute further to Nigeria’s economic growth.
“There are many vacancies we are trying to fill in Sagamu and Ashaka. Beyond direct employment, we are creating opportunities for small businesses, developing suppliers and supporting local contractors. This is an exciting period because it will deliver significant benefits to Nigeria,” he said.
Mr Alade-Akinyemi noted that while the company’s corporate identity had changed following its acquisition by Huaxin Building Materials Group, its core values and commitment to customers, host communities, employees and shareholders remain unchanged.
He said HBM Nigeria traces its roots to 1959 as West African Portland Cement Company (WAPCO), with its first cement plant commencing operations in Ewekoro, Ogun State, in 1961.
Since then, he said, the company has grown into one of Nigeria’s leading building solutions providers with integrated plants in Ewekoro, Sagamu, Ashaka and Mfamosing.
He added that the company, which became publicly listed in 1979, has continued to expand through acquisitions and transformation while maintaining high product quality, innovation and responsible operations.
Highlighting the strengths of its parent company, Alade-Akinyemi described Huaxin Building Materials as a globally recognised building materials manufacturer founded in 1907 and headquartered in Wuhan, China, with operations across 16 regions in China and 14 countries worldwide.
He said Huaxin’s engineering expertise and focus on research and development would strengthen HBM Nigeria’s operations and help close engineering skills gaps in the country.
“As HBM Nigeria, we are strategically positioned for long-term competitiveness and stronger market leadership while reinforcing our commitment to supporting Nigeria’s infrastructure development and economic progress after more than six decades of industry leadership,” he said.
He also said sustainability would remain central to the company’s operations, noting that it had introduced lower-carbon products and continued to invest in environmentally friendly production processes.
By Adedapo Adesanya
The Federation Account Allocation Committee (FAAC) distributed about N2.550 trillion from the revenue generated by the nation in June 2026 to the three tiers of government after its July meeting in Abuja.
A statement signed by the Director of Press in the Office of the Accountant General of the Federation, Mr Bawa Mokwa, “The N2.550 trillion total distributable revenue comprised N1.809 trillion in distributable statutory revenue and N740.724 billion in distributable Value Added Tax (VAT) revenue.”
It was gathered that a total gross revenue of N4.500 trillion was available in June 2026, with deductions for the cost of collection amounting to N160.744 billion, and transfers and refunds at N1.789 trillion.
According to a communiqué after the gathering, gross statutory revenue of N3.700 trillion was received in June 2026, N1.049 trillion higher than the N2.651 trillion received in the preceding month, while gross revenue of N799.746 billion was generated from VAT, N56.058 billion higher than the N743.688 billion recorded in May 2026.
It was stated that from the N2.550 trillion total distributable revenue, the federal government received N923.438 billion, the state governments got N838.208 billion, while the local government councils were given N591.390 billion, with N197.610 billion allocated to the benefiting states as 13 per cent of mineral derivation revenue.
From the N1.809 trillion distributable statutory revenue, the federal government went away with N849.366 billion, states shared N430.810 billion, local councils took N332.136 billion, while the benefiting states got N197.610 billion as derivation revenue.
From the N740.724 billion distributable VAT earnings, the central government got N74.072 billion, the states received N407.398 billion, and the local government councils were allocated N259.253 billion.
The communiqué further stated that in June 2026, collections from Companies Income Tax (CIT), Capital Gains Tax (CGT), Stamp Duties (SDT), Petroleum Royalties, Gas Flare Penalties, Rent, Mineral Oil Royalties (MOR), Value Added Tax (VAT), Import Duty, and Common External Tariff (CET) Levies increased significantly, while Petroleum Profit Tax (PPT), Hydrocarbon Tax (HT), Mineral Royalties, and Fees declined considerably. Excise Duty recorded only a marginal increase.
By Adedapo Adesanya
The Nigeria Revenue Service (NRS) says the rollout of electronic invoicing (e-invoicing) will strengthen tax compliance, curb revenue leakages and improve transparency in tax administration as it moves to fully digitise the country’s tax system.
The Project Lead for the NRS e-Invoicing Project, Mr Mohammed Bawa, stated this at the DigiTax E-Invoicing Compliance Breakfast Session held in Lagos on Wednesday.
The event, organised by DigiTax, an NRS-accredited e-invoicing platform, formed part of efforts to support the agency’s ongoing education and sensitisation campaign on the e-invoicing mandate.
Mr Bawa said the initiative aligns with global trends in tax digitisation and is expected to help improve Nigeria’s tax-to-GDP ratio, which remains one of the lowest in Africa.
According to him, the system will provide the NRS with greater visibility into transactions across sectors, formalise activities within the informal economy and standardise invoice formats nationwide using globally recognised invoice schemas.
He added that e-invoicing would improve operational efficiency for both businesses and tax authorities while supporting the NRS’ transition from manual and electronic tax administration processes to a fully automated system-to-system interaction model.
Mr Bawa noted that the legal framework for implementation is backed by the Nigeria Tax Administration Act, which prescribes penalties for non-compliance.
He disclosed that the NRS has completed onboarding large taxpayers and is preparing to enforce compliance with defaulting entities.
According to him, medium taxpayers are expected to begin compliance in the third quarter of 2026, while onboarding of emerging taxpayers will commence in 2027, with full adoption targeted for all taxpayers by the end of 2028.
Mr Bawa urged taxpayers yet to be onboarded onto the platform to begin the process and work with accredited service providers to ensure compliance.
On his part, Country Director of DigiTax Nigeria, Mr Olumide Akinsola, urged businesses to look beyond their internal systems and assess the compliance status of suppliers and counterparties.
He warned that businesses whose suppliers fail to transmit invoices through the MBS platform risk losing eligibility to claim Value Added Tax (VAT) input credits on such transactions, describing the resulting supply chain exposure as a significant commercial risk that many organisations have yet to quantify.
Mr Akinsola also announced the launch of DigiTax’s white paper, The State of E-Invoicing Readiness in Nigeria, which examines compliance adoption trends and the readiness gap across different taxpayer segments.
He added that DigiTax operates in Nigeria, Kenya, Zambia and the United Arab Emirates (UAE), noting that experience from those markets shows businesses that integrate early are better positioned to avoid disruptions when enforcement begins.
