How FG wants to generate N100bn from lottery business- Official

Amid concerns about low revenue generated by the lottery industry, the Federal Government has planned to generate N100 billion from the sector annually.
This disclosure was made by the Executive Secretary of the National Lottery Trust Fund (NLTF), Bello Maigari, on Thursday during the presentation of sporting kits to the agency’s staff in Abuja.
It should be noted that despite the massive number of people engaged in betting, the Nigerian government-generated less than N1 billion from the gaming industry in 2019.
Speaking on the issue, Bello 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 nooks 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 the 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.