Nigeria Sees Lottery Fee Hike

The Nigerian government is preparing the way for a change of license fees for lottery operators in the Lagos House of Assembly to N200 Million ($520,000) reports in the country have announced. According to the proposed bill the term for each license before renewal is five years.

The new license fee bill is now into its second reading and ready for committee approval it is understood, however complaints from lottery operators are gaining momentum saying the fee is too high.

Rotimi Olowo, the House committee chairman on finance said in an interview with the Premium Times, “the fee is to ensure that fraudsters do not get into the business, there are complaints from the operators, they now complain that N200 million for a five-year licence is rather on the high side.”

On the official regulators website for fees it states that, online casino, sports betting and online lottery is currently $52,000 that is why operators seemingly are complaining.

However the government believe the new fee will discourage fraudsters and the revenues from lotteries are highly lucrative.