Michael Eja, Director General of the Cross Rivers State Lottery and Gaming Agency, has revealed that around 60 million Nigerians gamble every day, highlighting the rapid growth of the gambling industry in the country. Speaking at the launch of a new sports betting platform, Woskybet, in Abuja on Friday, Eja noted that the industry is currently valued between N500 billion and N600 billion.
Despite this substantial revenue, Eja emphasized that over 90 percent of the gambling sector’s potential in Nigeria remains untapped. He pointed out that the overall betting market in Africa is valued at approximately $1 billion, with Lagos State alone generating $243 million in revenue last year.
"The gambling industry is expanding rapidly, and people are starting to understand its significance," Eja stated. "In Nigeria, we are currently generating over N500 to N600 billion in revenue, but we are still far from capturing the full potential, with 60 million Nigerians gambling daily."
Eja also addressed concerns raised by the Federal Government about gambling centers failing to remit taxes. He acknowledged that efforts are being made to improve regulation and ensure that operators contribute to state revenues. "The government is working hard to bring operators into the tax net across various states, and over time, the revenue benefits from the gaming industry will become evident," he said.
As Nigeria’s gambling sector continues to grow, Eja’s remarks underscore the need for further regulation and the potential for significant economic contributions from the industry.
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