Checkout Magazine has learnt that Nigeria may lose billions of naira, if the Federal Government fails to urgently reform the gaming and lottery industry.
Presently the industry contributes an estimated $250 million (approximately N500 billion) to the nation’s GDP annually.
According to the National Union of Gaming and Lottery Workers (NUGLOW), this contribution highlights the sector’s potential to drive economic growth, create jobs and serve the public good in Africa’s largest economy.
Speaking at a press briefing in Lagos, NUGLOW’s National Treasurer, David Omaghomi, emphasised the need for reforms to harness the industry’s full potential while ensuring fairness, professionalism, and improved conditions for workers and stakeholders.
He noted that Nigeria’s gaming market outpaces that of neighbouring countries, including the popular Ghana Games, which contributes only $64 million annually.
“Our potential is huge, our population is huge, and our market is huge. Beyond the contribution to GDP, the industry employs 650,000 people, with Lagos being the highest contributor,” he said.
Omaghomi pledged to improve working conditions, stating: “Better workers mean better results, and better results mean better contributions to societal development.”
He also highlighted the underutilised potential of the industry, pointing out that unregulated operators exploit the market, depriving the government of revenue and workers of fair benefits.
Omaghomi criticised foreign operators for exploiting the local market, evading taxes, and failing to contribute to Nigeria’s economy.