Nigeria will generate N141.3bn annually from lottery —Western lotto - 9JAOlofofo | Nigeia #1 gossip site.

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Tuesday, 11 July 2017

Nigeria will generate N141.3bn annually from lottery —Western lotto

WESTERN Lotto Nigeria Limited has disclosed that lottery can generate over N141.3 billion annually for the development of Nigeria’s economy.
Speaking during the launch of the company in Lagos yesterday, the Managing Director, Western Lotto Nigeria, Mr. Elvis Krivokuca, said the company seeks to create opportunities through extended value-chain of distributors, agents, business centres, portals, and several suppliers as well as wealth and empowerment of Nigerians.
He stated: “In South African, 82 percent of the population play the lottery at least once in a week. In 2012 alone expert put the lottery shares of funds to the country finances at about N141.3 billion. In same year, United Kingdom lottery made a significant contribution up to the sum of £2.2 billion which was used to host the 2012 London Olympics games.”
“The stakes are very high in gambling. People bet with expensive items including houses, cars etc. A lottery is a numbers game of chance for entertainment and reaction that carries much less risk. Also, gambling benefits only those directly involved; it is a winner takes all, whereas the proceeds of regulated lottery have been used to promote developmental causes in many countries.

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