Government targets N100bn yearly from gaming industry

By Sodiq Omolaoye, Abuja |   06 August 2021   |   3:00 am  


Amid growing concerns of low revenue generated from the lottery and gaming industry, the Federal Government has projected to rake in over N100 billion from the sector yearly.

Executive Secretary of National Lottery Trust Fund (NLTF), Bello Maigari, disclosed this yesterday, during the presentation of sporting kits to the agency’s staff in Abuja.

According to the research firm, Research, and Markets, there are roughly 60 million Nigerians aged between 18 and 40, involved in active betting.

Despite a huge number of people engaged in betting, the Nigerian government-generated less than N1 billion from the gaming industry in 2019.

Bello, however, said the government was working to acquire a Central Monitoring System (CMS) for the gaming industry for maximum regulation and curbing of leakages.

He said: “As we speak, the industry is worth almost two trillion naira. The fact that the industry has gone this far is due to the level playing ground established by the government. Lottery and gaming businesses are flourishing across the nook and crannies of this country.

“For instance, Bet9ja, a betting platform is in the remotest part of the country. This is to tell you how wide and far lottery and gaming have grown in the country.

“But sadly, the return to government coffers has been poor. Fortunately in the last few years, the government has reawakened and we are currently working to establish a CMS that will see to the streamlining of revenue that will accrue to the government.

“We are looking at the possibility of getting about N100b annually from the industry by the time the CMS is established and managed for the good of all stakeholders.

He said the sporting kits donated to the staff were to ensure that workers are physically and mentally fit, adding that it would also aid their preparation for the Federation of Public Service Games (FEPSGA) held yearly.

You may also like

26 Nov
Africa as a continent has seen impressive economic growth in recent years. Many countries in the continent are thriving whilst others are still struggling with civil war or terrorism. In this guide, we identify the industries and countries that are currently experiencing growth and most importantly are becoming politically stable. In development terms, there are…
1 Dec
In just about a month, the delayed 2021 African Cup of Nation (AFCON) finals will be here and qualified nations already know their first round opponents..
29 Nov
The Chairman of Toyota Nigeria Limited, Chief Michael Ade-ojo, was the chief launcher of the first motorsports App that was launched in Lagos, with a thought that he hopes