Trading

Oyo targets N500M revenue from gaming, lottery industry

The Oyo State Government says it has concluded plans to increase its revenue generation from the Gaming and Lottery industry by N500M this year.

The Government made the disclosure through the Director-General, Oyo State Gaming Board, Mr. Jide Boladuro, while briefing newsmen on the State Government’s desire to promote a peaceful and friendly society in the pursuit of higher revenue.

Boladuro said: “It is clear that Gaming and Lottery is a vital and growing part of revenue generation in Oyo State. It is also imperative, that as regulators, we sensitise the public on responsible gaming, not just for the underage, but to curb irresponsible gaming addiction that is detrimental to the society.”

To achieve the feat, Boladuro said the Board would expand the Gaming and Lottery market through the introduction of more segments like state lottery, society lottery, scratch cards, casinos and more pools, among others, assuring that the interest of the consumers would be protected in every way.

Boladuro noted that a toll-free call centre for consumer complaints and redress would also be set up, which he said was against the background of recurring cases with respect to lodgement of grievances and complaints which have increased by over 120 percent in the last two years.

He revealed that the outbreak of COVID-19 could not affect revenue from Gaming because Sports Betting is just one out of several gaming markets that could generate money for the State.

The Director recalled that on assumption of Office, the Board generated over N200 million, which he said had been deployed towards developmental projects, infrastructure, health, education and sports.

Source: Voice of Nigeria