Wednesday, 15 March 2017

NLRC generates $19million

The Director-General, CEO of National Lottery and Regulatory Commission, Mr. Adulphus Joe Ekpe had an exclusive interview with Daily Trust and disclosed that NLRC has generated $19 million (N6 billion) from 2007 to 2016.
He said the money is going to be distributed in good causes by the Lottery Trust Fund. He mentioned with a population of over 180 million Nigeria’s lottery industry should be about highest revenue generating government agency.
“As at December 2016, we have remitted over N6 billion to the Trust Fund” he said adding that the Commission is constrained by problems, hence its inability to generate more revenue for government.
“Why do we say the Commission can be highest revenue generating agency? It is because of the huge population in Nigeria. Lottery is tied to virtually all products and services and Nigeria has the market. So the potentials are there.’’
Sports betting and other forms of gambling are becoming a phenomenon across Africa. Betting over which sports team might win has become a multi-million dollar industry. By 2022, the global gambling market could be worth $635 billion, according to new findings by Dublin-based Research and Markets.
In Africa, countries like Ghana, Kenya, Nigeria and South Africa are witnessing a huge expansion in sports betting and other forms of gambling.
In East Africa, Kenya's SportPesa is taking gamblers by storm. Young Kenyan football lovers are betting heavily leading to a boom in gambling across the nation. SportPesa which was launched in 2013, boasts over one million registered users who can easily bet using their smartphones.

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