The Director-General of the Cross River State Lottery and Gaming Authority, Michael Ejah, has revealed that about 60 million Nigerians participate in gambling activities every day.
He also said that Nigeria’s gaming industry currently generates an annual revenue of about NOK 500 billion to NOK 600 billion.
Mr. Ejah, who disclosed this at the launch of Woskibet in Abuja yesterday, said the Federal Government is working with state lottery agencies to bring gaming industry operators into the tax net and generate revenue. He said he is taking steps to increase the number.
He said Africa’s gambling industry is currently worth a staggering $1 billion, adding that Lagos State accounts for a significant portion of this revenue, generating $243 million in 2023 alone.
He said: “People are starting to understand the true nature of gambling as the gaming industry sells hope and contributes to wealth redistribution, job creation and revenue generation.”
“The government is doing its best to upgrade the platform at various levels and is working hard to ensure that all operators are included in the tax network.
“Over time, we will see an improvement in the revenue that the gambling industry generates towards nation building.Nigeria currently does about N500 billion to N600 billion annually.
“Nigeria has a population of about 150 million people, but the statistics we have now show that about 60 million Nigerians gamble every day. Please. We haven’t even captured 90 percent of that market.”
Meanwhile, Interim Woskaibet Operations Director Nurudeen Idris said the gaming industry is contributing to job creation for the country’s youth.
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According to him, gambling is a game of chance, and “you either lose or win, and if you want to move forward as a player, it’s all about taking risks.”
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