The Oyo State Governor, Seyi Makinde, has reaffirmed his administration’s commitment to promoting a well-regulated gaming industry, stressing the need to balance economic growth, business compliance and public protection.
Makinde stated this in Ibadan while delivering the keynote address at the 7th Annual Stakeholders’ Interactive Forum organised by the Oyo State Gaming and Lottery Board.
The Governor, represented by the Secretary to the State Government, Professor Musibau Babatunde, commended the Board for providing a platform for government officials, regulators, operators and other stakeholders to discuss challenges and opportunities in the industry.
READ ALSO: Governor Makinde Reaffirms Support to State Security Agencies
He said a properly regulated gaming industry could contribute significantly to economic development through investment, job creation, innovation and revenue generation.
“Our position as a government is clear. Economic growth must be encouraged, businesses must be allowed to thrive within the law, and the interests of the public must remain protected. These objectives are essential to building an industry that is productive, responsible, and sustainable,” he said.
Makinde described the Oyo State Gaming and Lottery Board as a critical institution for ensuring stability in the sector through effective oversight, enforcement of licensing requirements and action against illegal operators.
He stressed that regulation must be fair, transparent and consistent, noting that the government’s objective was not to create obstacles for legitimate businesses but to promote orderly growth and accountability.
The Governor urged operators to regard compliance as an essential part of responsible business practice, including maintaining valid licences, meeting tax and levy obligations, keeping accurate records and adhering to regulatory requirements.
He warned that illegal operations and non-compliance could undermine the industry’s credibility, weaken oversight, encourage unfair competition and reduce government revenue.
Governor Makinde also emphasised the need for responsible gaming practices, particularly the protection of vulnerable persons and the prevention of underage participation.
He noted that although digital platforms could improve efficiency and expand legitimate operations, adequate safeguards were necessary to address cybersecurity, consumer protection, transaction monitoring and compliance challenges.
The Governor said improved compliance and accurate reporting would reduce revenue leakages, promote transparency and strengthen the industry’s contribution to Oyo State’s economic development.
The Director-General of the Oyo State Gaming and Lottery Board, Olajide Boladuro, described the forum as a demonstration of stakeholders’ collective commitment to building a responsible, transparent and sustainable gaming industry.
Boladuro commended Governor Makinde for supporting good governance, institutional accountability and the responsible development of the gaming and lottery sector.
He said the industry offered significant opportunities for investment, employment and revenue generation, adding that such benefits could only be fully realised through a framework that promotes compliance, protects the public and builds confidence.
Highlights of the forum included panel discussions on “Over-Regulation or Revenue Trapping: Incentivising Industry Growth”, “Corporate Social Responsibility in the Gaming Industry” and “The State of iGaming Regulation in Nigeria: Stalemate or Progress. ”
