Viral video of two children in a boxing match while adults cheer on

This is a viral video of two kids engaged in a street boxing bout in Abeokuta, Ogun State with older kids and adults cheering them on. According to the Facebook user who shared the video, the kid in the blue vest is nicknamed Floyd Mayweather Jr. while the kid in the Bright Turquoise vest is  Manny Pacquiao. Where are their parents? Isn't this child abuse? Watch the video after the cut...