The Federal Government is targeting earning over N20 billion in three years by boosting the monitoring of lottery remittances.
The Director-General, National Regulatory Commission (NLRC), Lanre Gbajabiamila, revealed this on Tuesday after the inauguration of a 12-man ministerial task force to recover unremitted lottery funds from operators from 2015 to 2020.
He said with the central monitoring system, Nigeria could make N20bn per annum, as it would be difficult for operators to cheat the government.
Nigeria currently generates over N1bn annually after it was boosted from about N500 million. “I have been in office for the last two years and things are shaping up better than it was before, that is why we have gone past the N1 billion mark.
“If we start this implementation in the first quarter, before the year is over, we will make about N8 billion. And the following year, we will be making at least N20 billion, for two to three years. The government needs that in this time of COVID-19.”
While inaugurating the committee, the Minister of Special Duties and Intergovernmental Affairs, Senator George Akume, urged them to be at their best in ensuring that they recover every kobo belonging to the government.
“It is clear that historic revenues collections from lottery and gaming transactions have underperformed resulting in significant losses to the government. Despite my earlier appeal for increased effort by operators to pay what they owe, statutory returns continue to be poor or non-existent,” Akume said.