The Federal Government is projecting over N20 billion revenue from lottery activities in the next three years with the implementation of a Central Monitoring Platform to connect all the operators in Nigeria to block leakages.
This is just as the Minister of Special Duties and Intergovernmental Affairs, George Akume inaugurated a Ministerial Taskforce for the recovery of unpaid revenues from lottery operators and permit holders in Nigeria from 2015.
Addressing journalists after the inauguration on Tuesday in Abuja, Director General of the National Lottery Regulatory Commission, Lanre Gbajabiamila said Nigeria has being generating over N1 billion from lottery in the last two years as against the N500 million before then.
He said: “Considering what we are doing now, if we start the implementation of this Central Monitoring Platform by the first quarter of next year, before the year is over, we will make about N8 billion and we will be making at least a minimum of N20 billion for the next two, three years”.
While inaugurating the Taskforce, Minister of Special Duties and Intergovernmental Affairs, Akume said given Nigeria’s current economic climate, definitive measures must be taken to boost government revenue so as to fund development projects.
He charged the Taskforce to determine what funds are owed to government from 2015 to 2020 and facilitate the immediate recovery of such funds to government coffers, adding that the team shall complete its work within the next two months.
Akume said: “Since my assumption at the Ministry, I have had ample opportunity to consult with the industry stakeholders. I have been less than satisfied with my findings.
“It is clear that historic revenues collections from lottery and gaming transactions have underperformed resulting in significant Losses to government”.
In his remarks, Chairman of the Taskforce and Permanent Secretary, Ministry of Special Duties and Intergovernmental Affairs, William Alo said they will go all out in the entire country and get back the lottery funds been held down by some people since 2015.
According to him: “Lottery in Nigeria has a potential to increase the revenue base of this country. Having realized that what is supposed to be realize as lottery proceeds as done in other countries of the world, in Nigeria, income from lottery is damn too poor.
“This country can not continue to depend on oil as reasonable effort is been done to diversify the economy and that is why the Honourable Minister, having looked at some gaps of not generating enough revenue from lottery has decided to constitute a Taskforce”.
