FG Raked 6 Billion Naira From Lottery In 5 Years
Lottery has indeed become a big business in Nigeria.
The Federal Government through its agency in charge of lottery, the National Lottery Regulatory Commission, said it raked in 6 billion Naira from lottery proceeds in the last five years.
The Director-General, NLRC, Mr. Lanre Gbajabiamila, disclosed this in Abuja during the public presentation of the winner of the Nigerian Jackpot of Plenty Million National Lottery, Mr. Anthony Akoma.
“This commission has earned over N6bn for the Federal Government in the last five years from lottery proceeds,” the DG said.
But how does the government plan to spend this money?
Well, the federal government said it is already spending over 1 billion out of the 6 billion Naira to procure sports equipment for use in four primary schools in each of the 774 local government areas in Nigeria.
28 states had already been covered in the project, according to Gbajabiamila, who also noted that the proceeds were being kept with the Lottery Trust Funds under the supervision of the Presidency.
“In every licence in the lottery scheme, the proceeds are shared, government takes 20% and put into the development of infrastructure like schools, hospitals, roads and sports and this goes along to improve the economy of the country,” he said.