It has been revealed that Nigerians spend an average of $975 million every day on sports betting.
This figure was deduced from the Executive Secretary of the National Lottery Trust Fund (NLTF), Bello Maigari on Tuesday, who said at least 65m Nigerians spend about $15 each day on sports betting. This amounts to about $975 million each day.
Maigari who noted that Nigerians spend billions of dollars on bet each year, called on the Federal Government to evolve a framework that would lead to taxing sports betting.
He disclosed this at the 2nd edition of the biennial national gaming conference held on Tuesday in Lagos.
Speaking further, Maigari suggested that the federal government should create a framework that can encourage the betting industry to contribute taxes in the country.
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Maigari added that the NLTF has used its proceeds to contribute to important projects for the development of the country and the wellbeing of the population, particularly in health, education, water and sanitation, humanitarian aid and natural disaster mitigation and management.