The Executive Secretary of the National Lottery Trust Fund (NLTF), Bello Maigari proposed that the Federal Government (FG) create a framework to tax the gaming and betting industry. He made this proposal known on Tuesday during the 2nd edition of the Biennial National Gaming Conference organized by the National Lottery Regulatory Commission (NLRC), where he stated that revenue from Nigeria’s online betting sector alone is projected to reach above $266 million in the year 2023.
He said, “Moreover, leveraging the gaming and betting industry as a tax contributor can help create a level playing field for both local and international operators.
“By establishing clear and equitable tax regulations, we can encourage foreign players to operate within our regulatory framework, ensuring that we benefit from their presence while safeguarding our citizens.
“The importance of taxation of this sector cannot be over-emphasized.”
According to Maigari, the NLTF has utilized its proceeds to contribute to important societal projects in different sectors especially in health, education, water and sanitation, humanitarian aid, amongst others.
