60million Nigerians Engage In Gambling Daily As Industry Stands At Estimated N500billion – Cross River Lottery DG
The DG noted that despite the industry’s rapid growth, 90% of the potential market remains untapped, Tribune reports.
The Director-General of the Cross River State Lottery and Gaming Agency, Micheal Eja, has revealed that approximately 60 million Nigerians engage in gambling daily.
Eja stated this during an event in Abuja, adding that the gambling industry in Nigeria had continued to boom and stands at an estimated N500 billion and N600 billion.
The DG noted that despite the industry’s rapid growth, 90% of the potential market remains untapped, Tribune reports.
He explained, “The betting industry is worth about $1 billion in Africa. Lagos State alone generated $243 million in revenue last year.”
“Gambling is becoming increasingly popular, and more people are beginning to understand its essence.”
He further stated that the gambling industry contributes to development and wealth development in the country.
“The gaming industry sells hope, aids in wealth redistribution, and creates jobs in Nigeria. Over time, we will see an increase in the revenue that the gambling sector contributes to nation-building,” Eja added.
