The Executive Vice President for Africa Affairs at the International Institute of Experts on Political Economy and Administration, Prof. Tunji John Asaolu, has vehemently criticized calls to abolish the National Lottery Regulatory Commission and the National Lottery Trust Fund.

Speaking at a press conference in Abuja on Monday, Asaolu warned that such a move would foster increased corruption and undermine Nigeria’s economic stability.

He emphasized the vital role these federal lottery bodies play in generating revenue for the country, noting that many states, particularly those that do not produce oil, rely heavily on federal allocations to meet their infrastructure and social development needs.

“As it stands, most states in Nigeria depend primarily on federal allocations to manage their affairs, as their internally generated revenue is insufficient to complement the federal government’s efforts in enhancing infrastructure and social development,” Asaolu stated.

He added, “These agencies employ over 20,000 staff members, and the National Assembly has empowered the commission to regulate the betting and gaming sector. Meanwhile, the Trust Fund is tasked with collecting relevant revenue for the federal government and utilizing it for the benefit of Nigerians.”

Asaolu pointed out that lottery operators have historically failed to remit the mandated revenues of 27.5% and 25% to the government. “In response, President Bola Ahmed Tinubu’s administration has taken significant steps to automate the revenue sector of the lottery industry, presenting an opportunity to harness the substantial revenue within the betting and gaming sector, which will ultimately enhance the country’s revenue base,” he said.

He also highlighted the foreign ownership of several lottery operators, stating, “The operators of the lottery industry are not Nigerians. For instance, BetNaija is owned by the Russian government, Ghana Games is owned by the Ghanaian government, and Baba Ijebu is owned by the Australian government, among others.”