FG Eyes More Revenue From Lottery, Betting Companies, Launches Project Phoenix
11 months ago 2 min read
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The Federal Government has launched Project Phoenix which will allow it generate and collect more revenue from the lottery and gaming industry.
This was disclosed on Friday by the Director, Information and Public Relations, Federal Ministry of Finance, Mohammed Manga.
The initiative will be overseen by the Joint Committee for the implementation of Revenue Assurance Platform (RAP).
RAP will be presided over by the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, in Abuja.
According to the minister, Project Phoenix aims to establish a transparent and efficient revenue collection system that maximizes government earnings and protects Nigerians from fraud.
He said, “The project will also strengthen regulation, ensure compliance, recover outstanding revenues from operators, and implement advanced monitoring systems to safeguard consumers.
“The project’s key deliverables include the successful implementation of the Revenue Assurance Platform (RAP), recovery of outstanding revenues, and policy recommendations to further improve the sector.”
Edun also noted the need to boost domestic resources to support Nigeria’s economy and social programmes.
According to him, the lottery and gaming sector, through RAP, would “ensure transparent revenue collection while protecting consumers from fraudulent activities.”
He said as Nigeria’s gaming sector is poised for growth, the Project Phoenix initiative demonstrates the government’s commitment to transparency and accountability.
According to him, the project Project is helping Nigeria take a significant step towards harnessing the potential of the lottery and gaming industry to drive socio- economic development of the country.
