Lottery: NLTF explains why Nigeria upon its population, earns less than smaller nations
Fresh leads have emerged for the investigating members of the House of Representatives on why upon its intimidating population; smaller nations in Africa had been earning more than Nigeria from lottery industry.
Testifying before the lawmakers, the Acting Executive Secretary of the National lottery Trust Fund (NLTF), Mr. Bello Maigari confirmed that the nation’s lottery market was worth N1.5 trillion annually, but the absence of regulatory framework and nonchalant attitude of operators remain key frustrating factors in the sector.
He agreed that the N7.6 billion revenue that accrued from operators to his outfit in one year is grossly inadequate and enjoined the lawmakers to put in place measures to bring those who default in the payment to book.
In his remarks, the Speaker of the House of Representatives, Mr. Yakubu Dogara, represented by the Chairman of the House Committee on Media and Public Relations, Mr. Abdulrazak Namdas, disclosed that it was unfortunate that the lottery sector, which is ranked fourth after oil and gas, agriculture, and solid mineral in terms of potentialities to generate revenue, is yet to be exploited for the benefit of Nigerians.
He therefore made it clear that it behooves the authorities to emulate advanced countries like the United States of America (USA), China and South Africa that utilised proceeds from the sector to build critical infrastructure for their respective citizens.
During the public hearing, the Director General of the Nigeria lottery Commission (NLC), Mr. Larne Gbajabiamila, was grilled over the poor returns from the commission as he revealed that the issuance of licenses for the 21 lottery operators were granted by the presidency between 2004 to date.
Fireworks started when the House Committee on Governmental Affairs led by Mr. Hussaini Sulaiman probing into the poor revenue in the sector from 2005 to date, noted that it was unfortunate that lottery operators have been unfair to the country by their unpatriotic conduct.
He wondered why upon Nigeria’s population and surging number of companies, the government only realised about N7. 6 billion from some of the 21 licensed lottery operators in the country within the past 11 years even when less populated and endowed countries like Morocco, Cote ‘d Voire, and Togo remitted N58 billion, N2.7 billion, and N1.8 billion on yearly basis.
According to him, “With this fact at our disposal, we wonder why Nigeria with a population of over 180 million will be earning far less from these operators. We are not going to allow this unpatriotic act to continue. Any licensed operator owing government would be made to remit whatever amount such person owes. We would make sure the licenses of those operating illegally are revoked as well.”
