The Executive Vice Chairman of Nigeria Communication Commission (NCC),  Dr Aminu Maida, has called for effective regulation of the gaming industry.

He said this at the 2023 International Gaming Conference held at the Eko Hotels and Suites, Victoria Island, Lagos.

The 2-day International Gaming Conference with the theme: “Innovation and Disruption: Core Strategies for Success,” had in attendance stakeholders of the industry.

Maida who was represented by Adeleke Adewolu, Executive Commissioner, Stakeholder Management, NCC, in his address titled: “Effective Regulation – A Key to Industry Growth Through Efficient Stakeholder Management,”  said effective regulation played a pivotal role in fostering the growth and success of the gaming industry.

“Lottery industry is not an exception, having long been recognised as a source of entertainment, revenue, and a means to support numerous social and public initiatives.

“However, to truly harness their potential and ensure their sustainability, we must recognise the importance of robust and well-thought-out regulation.

“Effective regulation refers to the creation and enforcement of rules, standards, and laws by government authorities or regulatory bodies to achieve specific objectives while minimising negative consequences,” he said.

Maida added that effective regulation would ensure that the national lottery remained a trusted and transparent institution.

“It safeguards players’ interests, maintains the integrity of the games, and prevents fraudulent activities.

“Lotteries are designed for entertainment, but when not properly regulated, they can become addictive and detrimental to individuals and society. Effective regulation can implement responsible gambling measures.

“However, it’s essential to strike a balance between regulation and fostering industry growth. Overly burdensome or poorly designed regulations can stifle innovation and economic development,” he said.

The Director General of National Lottery Agency (NLA), Ghana, Mr Sam Awuku, said the COVID-19 pandemic transformed the gaming industry from conservative retail channels into the digital space.

Awuku, who was represented by Mrs Anna Miezah, Deputy Director, said this at the 2023 International Gaming Conference held at the Eko Hotels and Suites, Victoria Island, Lagos.

Awuku noted that the gaming industry had seen a significant increase in revenue in the past three years.

Citing a World Lottery Association (WLA) report, he said despite lockdowns that severely impacted footfall and an absence of sporting fixtures and betting opportunities at the beginning of the pandemic, the sector rebounded in 2021.

“The industry has  moved aggressively online, optimising retail sales channels, innovating game content through new product launches and  additions of extras and sundries to existing brands.

“The report further states that the respective lottery and betting institutions recorded a sales growth of 8.6 per cent year-on-year after the pandemic,” he said.

Awuku noted that although the COVID-19 Pandemic wreaked havoc, it also revolutionised the world, “thrusting us from our conservative retail channels into the digital space and teaching us to adapt and be innovative.”

Awuku further said operators in the industry must recognise the dynamics of the evolution of lottery and gaming and the increasingly sophisticated generation of new players who demanded exciting, interactive and engaging digital channels.

He noted that the bane of the gaming industry was disruption of services and illegal operators.

“The World Lottery Association reported a loss of 1.8 trillion dollars in 2022 alone, money that could have supported good causes.

“Back home in Ghana, we have not been spared either, with the activities of illegal lottery operators costing us over 300 million Ghana Cedis annually.

“We are, however, not relenting in our fight against their operations and are instituting new measures and strengthening our laws to tackle this menace.  I would urge you to do the same.

“You cannot be innovative and manage disruptions without embracing responsible gaming to enable you to uphold the tenets of the lottery industry and support good causes to give back to the citizenry,” Awuku said.

He added that funds from lottery bodies worldwide had been used to support good causes, particularly in health, education, sports, environmental restoration and children with special needs.

“In 2021, WLA member lotteries contributed almost 80 billion dollars to fund good causes.

“The NLA Good Causes Foundation has built recreational centres, sanitary facilities, mechanised boreholes, refurbished schools and hospitals, granted scholarships to brilliant but needy students, and provided educational and medical equipment, among others,” he said.

(NAN)