FG Resolves Revenue Generation Disputes In Gaming Industry

Minister of Special Duties and Intergovernmental Affairs, Zephaniah Jisalo says the federal government will 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 Eko Hotels and Suites in Victoria Island, Lagos, according to a statement issued by deputy director, public affairs at Magnus Ekechukwu.

The 2-day 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. 

“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 said that the logic behind the 2023 gaming conference was laudable and deserved commendations from all worthy stakeholders in the gaming industry.

Jisalo said the conference is a demonstration of resolve 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.

In his welcome address, the director-general of National Lottery Regulatory Commission Mr Lanre Gbajabiamila, said the gaming sector holds the key to economic growth describing it as “a potent tool for addressing the pressing issues of unemployment and low per capita income.” Gbajabiamila said 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.

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 the online market alone is projected to reach over 256 million dollars this year.