The Director-General of the Cross River State Lottery Gaming Agency, Michael Eja, has revealed that about 60 million Nigerians engage in betting activities daily.
Eja also said Nigeria’s gaming industry is presently generating between N500 billion and N600 billion yearly.
In his remarks at the unveiling of Woskybet company yesterday in Abuja, he said the federal government would take steps with state lottery agencies to bring the gaming industry’s operators into the tax net for more revenue.
He further stated that the betting industry in Africa is now worth a staggering $1billion, adding that Lagos State accounted for a significant chunk of this revenue, generating $243 million in 2023 alone.
“People are beginning to understand the essence of gambling as the gaming industry sells hope and helps in wealth redistribution, creation of jobs, and revenue generation. The governments at various levels are doing their best to upgrade their platforms and working very hard to ensure that all operators are brought to the tax net.
“Over time, you are going to see improvement in the revenue that the gambling industry will generate towards nation-building. In Nigeria presently, we are doing about N500 Billion to N600 Billion yearly. Nigeria has a population of about 150 million people and presently from the statistics we have, we know that about 60 million Nigerians gamble daily. Do mathematics. We have not even captured 90 per cent of that market.”
The Director of Operations, Woskybet, Nurudeen Idrees while speaking, said the gaming industry is contributing towards job creation for youths in the country.
“We are unique, which makes us stand out in public in terms of completeness with other companies. In times of payment, I want to reassure our customers and the general public around the country that they should feel free when they win because their money is guaranteed 100 per cent because their wins are their rights.
Idrees, while stressing that gambling is a game of luck, said: “You either lose or win and everything is about taking risks if you want to move forward as players, among others.”
