Minister Advocates Collaboration For Increased Revenue In Gaming Industry

Folashade Adeniran
Nov, Wed, 2024

General News

Minister advocates collaboration for increased revenue in gaming industry

follow and like on:

150 total views today

By Grace Alegba / Funmilola Gboteku

The Minister of Special Duties and Intergovernmental Affairs, Mr Bitrus Jisalo, has stressed the need for a comprehensive system to regulate Nigeria’s gaming industry to boost revenue generation.

Jisalo also called for collaboration between operators and regulators in the industry.

The Minister said this during the National Lottery Regulatory Commission (NLRC) Stakeholders’ meeting and management retreat on Monday in Lagos.

Jisalo said that to achieve this, a robust system was necessary, noting that Nigerians must adopt a more responsible approach to gaming.

The minister said that by doing so, we could promote a culture of respect, understanding, and collective growth.

Speaking about the stakeholders meeting, he said the focus was to collaborate and discuss ways of boosting revenue generation in the industry.

In his welcome address, the Director-General of NLRC, Mr Lanre Gbajabiamila, said the meeting was designed not only to inspire but to educate stakeholders.

Gbajabiamila added that the meeting was aimed at fostering collaboration and understanding among various stakeholders in the industry.

“The aim is to address and correct misconceptions about the industry in Nigeria, ensure responsible gaming, and protect under-aged players.

“By bringing together representatives from different sectors, including advertising, security, taxation, and gaming, the meeting seeks to create an interactive environment where challenges can be discussed and solutions can be developed.

“The focus on responsible gaming and proper use of revenue indicates a commitment to ethical practices and community welfare.

“Overall, the goal is to improve the industry collectively, encouraging operators while ensuring that regulators understand their role in facilitating a healthy gaming environment,” Gbajabiamila said.

Making a presentation on advertising, Dr Olalekan Dolapo, the Director-General Advertising Regulatory Council of Nigeria (ARCON), said the advertising industry was properly regulated globally.

Dolapo stressed the need for Nigeria to take proactive steps in regulating online materials and gaming organisations.

He explained penalties paid by some offenders in developed countries and efforts of ARCON in meeting current regulatory standards.

Dolapo explained the importance of principles of practicing advertising, regulating media, local content creation policy and digital media regulation for better economy, among others.

“It is the responsibility of the council to regulate the advertising industry in the interest of Nigeria,” he said.

He said advertising concepts and materials were usually vetted as part of ARCON’s oversight functions to prevent broadcast of content that could cause disharmony or disunity in the society.

Mr Tosin Adeyanju, the Chief Executive Officer, National Lottery Trust Fund, urged operators to make appropriate payments to avoid getting sanctions from the Economic and Financial Crimes Commission (EFCC).

Adeyanju noted that the money remitted by the operators was channelled towards the betterment of the country.

Adeyanju said that the few bad ones in the gaming and Lottery industry were the ones allowing the EFCC to view the industry in a bad light.

He noted that President Bola Tinubu had initiated a revenue assurance platform and the implementation committee were working on it.

This, he said, was to digitalise the remittances in the industry.

Operators including, Olafadeke Akeju of WYS Solicitors, Legal Advisors to the Association of Nigerian Bookmakers requested that regulators should consider size of operators businesses while implementing remittance laws.

They also requested special preference for operators who had adopted cyber security measures.(NAN) (www.nannews.ng)

Edited by Chinyere Joel-Nwokeoma

follow and like on: