FG to Ensure Gaming Industry Remains Steady for Sustainable Growth, Development 

The Federal Government has said it will do all within its statutory powers to ensure that Nigerian gaming industry remains on the steady path of sustainable growth and development.

The Minister of Special Duties and Intergovernmental Affairs, Zephaniah Jisalo, disclosed this on Tuesday, at the ongoing 2023 International Gaming Conference, holding at the Eko Hotels and Suites, Victoria Island, Lagos.

The two-day conference, themed: ‘Innovation and Disruption: Core Strategies for Success,’ had in attendance stakeholders and captains of the industry.

According to him, the logic behind the 2023 International Gaming Conference was laudable and deserved commendation from all stakeholders in the gaming industry.

“This conference is very strategic and timely as the Federal Ministry of Special Duties and Inter-Governmental Affairs looks forward to a fruitful outcome of this esteemed gathering via the Value-Added Communiqué.”

Speaking on the issues of revenue collection in the gaming industry, the Minister said that the Ministry of Special Duties is aware that the principal cause of friction between the federal and state regulators is revenue.

He, therefore, noted that the FG will find a lasting solution to the friction caused by revenue collection in the gaming industry.

“We believe that all concerned can find a common ground for the good of stakeholders to enhance peace, harmony and progress.

“Therefore, the ministry suggests a ‘Shared-Value’ engagement to reach an amicable resolution of issues in the gaming sector rather than the ‘Jurisdictional Protection’ approach as the case is now,” he said.

He, however, recalled, that the National Lottery Regulatory Commission (NLRC) was created by the National Lottery Act 2005 (As Amended), to enable the federal government of Nigeria to properly organise and coordinate the operations of the lottery business in Nigeria that was hitherto an all-comers affair.

“Since then, the Commission has been on a steady growth path. This conference further demonstrates that the government under the leadership of President Bola Tinubu is charged with its Renewed Hope Agenda to ensure that stakeholders understand the importance the federal government attaches to the gaming industry.

“Furthermore, on this auspicious occasion, the Federal Ministry of Special Duties and Inter-Governmental Affairs would like to encourage all operators to remain compliant and all relevant agencies here present to strengthen your inter-agency collaborations.

“We will also see to consolidate the progress made so far in taking the gaming industry to greater heights. The outcome of this conference will be strategic to strengthening the future of the gaming industry,” he said.

Also speaking at the conference, the Director-General, National Lottery Regulatory Commission (NLRC), Lanre Gbajabiamila, said the gaming sector held the key to economic growth and was a potent tool for addressing the pressing issues of unemployment and low per capita income.

Gbajabiamila noted that the gaming industry had become more dynamic with technology, which he said created a digital era and fundamentally reshaped how people engaged and perceived the gaming industry.

“This transformation has brought challenges and opportunities, making it increasingly complex for any state to assert complete regulatory control, especially in light of the growing prevalence of online and remote gaming operators.

“We are at a pivotal juncture, standing at the crossroads of traditional gaming and the rapidly evolving digital realm.

“It is noteworthy that the Commission has dedicated countless efforts to formulate a regulatory framework that promotes fairness, safeguards consumers and fosters an environment where businesses cannot only survive but thrive,” Mr Gbajabiamila said.

The Executive Secretary of the National Lottery Trust Fund (NLRF), Dr Bello Maigari, while giving his goodwill message at the event, said with a population of over 200 million people and the largest betting market in Africa, Nigeria was making giant strides in the world of online sports betting.

Maigari noted that the revenue from online market alone is projected to reach over 256 million dollars this year.

“It is expected to experience an annual growth rate of nearly 10 per cent to reach more than 366 million dollars by 2027.

“Currently, there are over 65 million Nigerians actively engaging in gaming activity, spending at least 15 dollars on average every day.

“This surge in digitalisation and the globalisation of the industry will both bring opportunities and challenges for the economic development of our nation,” he said.