The Federal Government of Nigeria has decided to repeal the existing National Lottery Act and the Gaming Act 2021.
Realizing the potential of the lottery sector to generate wealth and further economic growth, the Nigerian govt. has approved the Central Monitoring System to adopt the best practices around gambling sector.
Senator George Akume, Minister of Special Duties and Intergovernmental Affairs said: They intend to “accommodate the growing dynamism of lottery business and help steer the industry to international best practices for improved good causes, interventions across the country and also sanitise the industry for much-approved revenues,” as per Gambling Insider report.
Akume further added: They are “committed to ensuring that returns obtainable from other non-oil sources of revenues are maximised. Hence, lottery is one of such alternative revenue sources that this government has identified and is determined to make it more productive and sustainable. As the sector becomes firmly established, it is our expectation that lottery will be included in the strategic plans of the nation.”