FG intensifies effort to make gaming industry next revenue generating sector

THE Federal Government on Wednesday said it is making effort to ensure that the Nigerian gaming industry becomes the next revenue generating sector in the country.

Minister of Special Duties and Intergovernmental Affairs, Senator George Akume, made this known during the maiden edition of the National Gaming Conference organised by the National Lottery Regulatory Commission (NLRC).

Speaking at the conference, with the theme, ‘Repositioning the gaming industry for better performance and enhanced revenue generation for stakeholders in the 21st century,’ said the Federal government has to look beyond oil and gas for revenue generation to sustain the Nigerian economy.

“We all know that poverty is a primary cause of youth unemployment, civil agitation and insecurity, hence significant funds are needed to confront these problems.

“Several stakeholders have made effort to generate revenue for the government through lottery, however, it is sad to note that lottery revenues continue to fall short of industry potentials due to conflict of interests,” he said.

Akume said to intensify efforts in growing the gaming industry, the government will be acquiring a central monitoring system for the sector.

The monitoring system, according to the minister, will enable the commission and its sister agency, the National Lottery Trust Fund, to perform maximally in their regulatory functions and provision of lottery good causes to Nigeria, respectively.

In his welcome address, the Director-General of NLRC, Mr Lanre Gbajabiamila, said as part of the commission’s commitment with relevant industry stakeholders and government officials, it would be working on the amendment of existing lottery laws.

Gbajabiamila said the amendment would provide a legislative and regulatory frame that best serves the industry.

Gbajabiamila also noted that to reposition the gaming industry for better performance, stakeholders cannot afford to be at cross purpose, adding that it is necessary to work towards common cause.

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