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May 23, 2024
Business

Interior Minister dismisses wrong notion about lottery business, harps on importance to economy

The Minister of Interior, Dr. Olubunmi Tunji-Ojo has dismissed wrong notion about lottery business, stressing its importance to economic growth in Nigeria.

Tunji-Ojo therefore advocated that the country should focus on the non- oil sector for economic growth, stating that the lottery sector is a non-oil sector investment that is yet to be fully tapped into in Nigeria taking cognizance of the growing population.

The Minister said this while hosting the management team of the Nigeria Lottery Regulatory Commission (NLRC), led by its Director-General, Mr. Lanre Gbajabiamila in Abuja.

He said lottery is not always gambling as held by some people. He noted that some Nigerians feed their families from the proceeds of lottery business.

Noting that that there is an established correlation between lottery and crime, he said there is close link between lottery, gambling, drugs, money laundering and terrorism, hence the need for Ministry of Interior saddled with responsibility for internal security to partner with NLRC to provide a conducive atmosphere for foreign investors to operate in the country.

He commended the Director-General for curtailing the abuses in lottery processes in Nigeria. He said this was attributed to the reforms instituted by him in the lottery sector.

Earlier, the Director-General National Lottery Regulatory Commission Mr. Lanre Gbajabiamila said he was in the Ministry of Interior to solicit for the Ministry’s support and collaboration to achieve ease of doing business for the foreign investors.

He said this is because lottery business attracts foreign investors, especially as it relates to the non oil sector. Mr. Gbajabiamila said that with the collaboration, the Commission will be able to identify investors in the sector.

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