Lets Mine Nigeria via Lottery - Lottery Can give us N360Billion Anually

Nigeria has the potential to earn at least N36obn from lottery per annum, Director-General of the National Lottery Regulatory Commission, Mr. Peter Igho, said in Abuja on Sunday.

He made the declaration when he told the News Agency of Nigeria that the revenue would be earned if lottery was run properly. Igho expressed regret that Nigeria had yet to tap into the revenue potential which could spur rapid development in the country.

“I established a study and that study is of great interest because it showed that the potential of lottery in this country is not less than N360bn revenue per annum, if run properly.

“If all things are on ground to ensure that lottery was carried out in the country with transparency and integrity; that all those who were licenced to operate were doing so following all the rules of lottery.

“It’s not surprising because if you realise that in the UK for example with its population of less than one third of our population, about 75 per cent of the population of Britain plays the lottery every week with the average of a disposable income of three pounds, fifty pence each.

“In 14 years of the lottery, they have generated over £22bn for good course, that’s well over £1.5bn per annum. “With our population of a 150m, even if 50 per cent play that, you will realise that the potential in terms of revenue is quite big.’’

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