Nigeria’s lottery commission targets ₦1bn monthly revenue through National Games Initiative

Nigeria’s National Lottery Regulatory Commission says it hopes to generate ₦1bn revenue monthly through its ‘National Games Initiative’.
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Nigeria’s National Lottery Regulatory Commission (NLRC) says it hopes to generate ₦1bn (naira) revenue monthly through its ‘National Games Initiative’, where it will push its own national lottery game to benefit the country.

According to a report from Vanguard, Director-General of NLRC Dr Lanre Gbajabiamila made the commission’s goals known earlier this week during a meeting with Dr George Akume, Minister of Special Duties and Intergovernmental Affairs, lottery operators, and other lottery sector stakeholders.

Gbajabiamila explained: “National game is the game that we are trying to roll out for Nigerians in contrast to what we have in Ghana or foreign games that are outside the jurisdiction of Nigeria.

“There are foreign games, Ghana games whereby our players, our lottery operators use, they sell the Ghana games, they use the Ghana draws and other foreign games in the country. So, what we are doing with the national game is to have something that is similar to that, replicate what they are doing in other foreign jurisdictions.”

The Director-General commented that the initiative will also enhance revenue that is coming into Nigeria’s lottery market, elevating the national economy as a result.

He said: “As you know, Ghana games had been played for over 50 years by all other countries within West Africa and even outside Africa, Nigeria is ripe enough to have its own national game.

“It is going to multiply, we are looking at the billions, especially now that we have a body that top on the Central Monitoring System (CMS) which would be seeing transactions being made online and every time or anywhere in Nigeria.

“So, we are looking at a monthly billion naira increase in the lottery industry, we believe that with the support of the government, support of the operators, we are moving forward in the industry.”

Akume stated as well that the meeting’s goal was to address some of the challenges that limited the growth in the lottery industry which could also affect the nation’s economy negatively.

He highlighted some of the issues including non-remittance of taxes/proceeds by some players, the nonchalant attitude of some lottery operators that slowed down the expected sector development.

As a result, the minister suggested that the forum should remain the place to resolve all lottery issues and challenges.