Lottery in Nigeria to boost economy

A new company in the country revealed that the lottery can generate up to half billion to contribute with the local economy.

Nigeria.- Elvis Krivokuca, managing director of Western Lotto Nigeria, a company that was launched on Monday, said that lottery in the country can generate approximately US$425 million to help boost the African country’s economy.

Krivokuca said that the company wants to create opportunities through its agents, distributors, portals, business centers and suppliers, as Vanguard revealed. “In South Africa, 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 US$425 million. In same year, United Kingdom lottery made a significant contribution up to the sum of US$2.8 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,” he added.

Moreover, he said that Western Lotto Nigeria is partnering with a number of foundations and initiatives that support people who need financial assistance to complete education. Rob Lawson, Western’s foreign technical partner, added: “We also pride ourselves in the privacy, dynamism and accessibility that our platform offers. Western Lotto is the first mobile lotto in Nigeria. You can play via USSD, mobile app, online, shops and terminals. Your winning code can be paid via the Automated Teller Machine (ATM) or Quick teller -for smaller amounts, or walk into any bank to collect their winnings.”