Reno Omokri, a social media celebrity, has urged President Bola Tinubu to prohibit sports betting applications in the country.
According to Omokri, a ban on sports betting applications might potentially help the Naira’s value.
Omokri, citing the National Lottery Trust Fund, stated that “$1 billion is spent on gambling daily in Nigeria.”
On Wednesday, the media influencer offered his thoughts in a series of tweets on his X profile.
His tweet read,
“President Tinubu can immediately improve the economic conditions of most Nigerians and make the Naira grow by issuing an Executive Order authorising the Nigerian Communications Commission to ban sports betting apps from the App Store of any GSM Internet Service Provider in Nigeria and revoking the licenses of any physical sports betting operators in Nigeria. It makes better sense than Buhari’s draconian #TwitterBan.”
The former Special Assistant to erstwhile President Goodluck Jonathan stated that an average Nigerian spends “$15 daily on sports betting and other types of gambling.”
Omokri noted that despite the high rate of gambling in the country, the “vast majority of that amount” is leaving the shores of the country into foreign nations, compared to the nation’s externally generated revenue.
“This is scary. How much is our GDP that we are pissing it away like that? More money is leaving Nigeria through gambling than is coming in,” he wrote.
Omokri cautioned.,
“The Naira can never sustain its rally under such circumstances.”
The tweet stated further,
“There is such an epidemic of gambling in Nigeria and it is destroying Nigerian youths. $1 billion is spent on gambling daily in Nigeria, according to the National Lottery Trust Fund. Please fact-check me.
“The average Nigerian spends $15 daily on sports betting and other types of gambling, with the vast majority of that amount leaving our economy and going to places like Russia, South Africa, and Europe. The Naira can never sustain its rally under such circumstances.”
According to Platinum Times‘ findings, various sports betting companies operate in Nigeria. Bet9ja, Nairabet, Merry Bet, and SportyBet are among the betting companies.
Omokri also urged Tinubu in his article to “act on such a matter as threatening to our national security as this gambling epidemic.”
He also decried the unlawful tactics by which some Nigerian youngsters obtained funds “to fund their gambling habit.”
According to Platinum Times, the Minister of Special Duties and Intergovernmental Affairs, Zephaniah Jisalo, stated that the Federal Government would find a long-term solution to the conflict generated by income creation in the gambling industry.
While speaking at the 2023 International Gaming Conference on Tuesday, October 31, 2023, Jisalo stated that the FG “will do everything within its statutory powers to ensure the gaming industry remains on the steady path of sustainable growth and development.”
The Fund’s Executive Secretary/Chief Executive Officer, Bello Maigari, testified before the House of Representatives Committee on Finance on Monday, November 20, 2023, that the Fund generated N2.5 billion in 2023, but that the entire amount was spent on various projects across the country.
He claimed that the funds came from statutory returns from license and permit holders.