Canice Nwachukwu, Chairman of Nigeria’s House of Representatives Committee on Intergovernmental Affairs, emphasised the importance of regulating sports betting to prevent it from causing harm to society.
Speaking during a public hearing on the need to Curtail the Dangerous Effects of Sports Betting and Direct the National Lottery Regulatory Commission to comply with the Lottery Regulatory Commission Act, Nwachukwu highlighted the need for a central monitoring system for the sports betting industry in Nigeria.
While stating that the committee would not advocate for the closure of sports betting operations, Nwachukwu stressed the necessity of enforcing regulations to ensure responsible gambling practices. He emphasised the importance of creating a level playing field and implementing mechanisms to prevent sports betting from becoming detrimental to society.
Nwachukwu also discussed the introduction of a central monitoring system, which he believes would help address some of the challenges associated with sports betting, although it may not completely eradicate them.
Sandra Agbor, Deputy Director of the National Institute for Policy and Strategic Studies, advocated for the review and passage of the Nigerian Lottery Regulatory Commission Act 2005. She suggested that, in the interim, the President should enact an executive order on the dangers of sports betting in Nigeria.
Agbor highlighted the significant economic contribution of sports betting, estimating that Nigerians invest approximately $2 billion annually in the industry. However, she emphasised the need for a holistic response to address the negative effects of sports betting, including protection for underage individuals, fraud prevention, and addiction management.
Mr. Lanre Gbajabiamila, Director General of the National Lottery Regulatory Commission, emphasised the potential of the lottery and gaming to generate revenue and promote sports entertainment. He mentioned the Commission’s efforts to mitigate the adverse effects of sports betting through various measures.
Representatives from the Association of Nigerian Bookmakers and KC Gaming Networks Ltd. (Bet9ja) highlighted the positive impact of the sports betting industry on the economy, job creation, and tax revenue generation. They emphasised the importance of promoting responsible gaming practices and compliance with regulatory frameworks to protect customers and mitigate harmful effects on individuals and communities.