FG set to resolve revenue generation disputes in gaming industry
The Minister of Special Duties and Intergovernmental Affairs, Hon. Zephaniah Jisalo says the Federal government would find a lasting solution to the friction caused by revenue generation in the gaming sector.
Jisalo made the call at the 2023 International Gaming Conference held at the Eko Hotels and Suites, Victoria Island.
The 2-day International Gaming Conference with the theme: `Innovation and Disruption: Core Strategies for Success’ had in attendance stakeholders of the industry across the globe.
Jisalo in his opening address, said that the Ministry was not oblivious of the hitches in the revenue collection from the gaming industry.
“The Federal Ministry of Special Duties is aware that the principal cause of friction between the federal and state regulators is revenue.
“However, we believe that all concerned can find mutual common ground for the good of stakeholders to enhance peace, harmony and progress.
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“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.
The Minister added that the logic behind 2023 International Gaming Conference was laudable and deserved commendations from all worthy 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.
“Recall, the National Lottery Regulatory Commission was created by the National Lottery Act 2005 (As Amended), to enable the Federal Government of Nigeria to properly organize 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 demonstrate that the government under the leadership of President Bola Tinubu GCFR is charged with its Renewed Hope Agenda to ensure that stakeholders understand the importance the federal government attaches to the gaming industry.
According to Jisalo, “The federal government will do all within its statutory powers to ensure the gaming industry remains on the steady path of sustainable growth and development.
“Furthermore, on this auspicious occasion, The Federal Ministry of Special Duties and Inter-Governmental Affairs (FMSDIGA) 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.
In his welcome address the Director- General of National Lottery Regulatory Commission Mr Lanre Gbajabiamila, said
the gaming sector, held the key to economic growth describing it as “a potent tool for addressing the pressing issues of unemployment and low per capita income. ”
According to him, Nigeria
is teeming with untapped potential, and its most precious resource is its population.
Gbajabiamila noted that the dynamism of gaming had ushered in the advent of technology, creating a digital era, adding that it
has fundamentally reshaped how people engage and perceive 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 can not only survive but thrive, ” Gbajabiamila said.
He dusclosed that the commission had partnered with relevant agencies for a synergistic effort to achieve this goal.
In his goodwill message, the Executive Secretary of the National Lottery Trust Fund, Dr Bello Maigari, said that 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.
According to Maigari, the revenue from online market alone is projected to reach over 256 million dollars this year.
Magnus Ekechukwu
Deputy Director, Public Affairs, National Lottery Regulatory Commission.
