The Director General of Oyo State Gaming Board, Olajide Boladuro has said that his priority is to create an enabling environment for businesses to thrive.
Boladuro disclosed this on Wednesday, September, 30 while delivering his speech at the Oyo State Gaming Board interactive forum held at western hall, secretariat, Ibadan, the capital of Oyo State.
According to him, ” my priority as the Director General is to create an enabling environment for businesses to thrive, hence attracting more local and foreign direct investment, curbing the menace of underage and irresponsible gambling and drive reforms that will cater for the interest of the state government, operators and other stakeholders in Oyo State”.
“The overlap in the regulatory function between the federal and state levels was a major challenge facing the gaming industry in Nigeria. As such, an overhaul of the regulatory environment was required to enhance oversight and improve inconsistency in enforcement of license generations and payment of levels, development and revenue generation”.
” It is with great joy and a sense of purpose that I announce to you the landmark victory of the Oyo State Gaming Board in the matter between Give ‘N’ Take Lottery Limited v. Oyo State Gaming Board & 2 Ors., wherein the Federal High Court, sitting in Ibadan unequivocally laid to rest the issue of the overlap in the regulatory functions of both Federal and State gaming authorities”.
He said, “governance is acknowledged as a significant challenge to the government’s ability to restore growth and promote development. To date, Nigeria has fared poorly in most governance international benchmarks”.
“According to the Open Budget Index(OBI), which ranks Nigeria in the bottom quartile for fiscal transparency, no significant improvements have occurred from 2008 to 2017, public trust in government is at low ebb and hampers tax revenue mobilization. At the federal and state levels, Nigeria institutional set-up consists of a comparatively wide range of checks and balances, which would potentially prevent the undermining of fiduciary systems and sound budget management. However, it has been ineffective in doing so to date”.
Boladuro said that the stakeholders interactive forum is premised on promotion of efficiency in gaming regulation, tax administration and practices in Oyo State.
He added that no doubt that the discussions from the forum will chart a new path in the regulation and taxation of the gaming industry in the pacesetter state and equally provides a roadmap for remodeling the state’s fiscal governance.
In his own submission, Chairman, Board of Internal Revenue and Director-General, Oyo State Signage, Aremo Adeleke disclosed that the stakeholders’ interrcative forum would bring cordial and mutual relationship among the participants in the gaming industry.
Adeleke said that the regulation and taxation of the gaming industry was an evolving endeavor that has remained largely untapped in Nigeria.
He added that its importance cannot however be over-emphasied saying the gaming and lottery is gaining traction via recent survey from KPMG that is considered a multi-billion-dollar industry.
Adeleke enjoined all and sundry in the pacesetter state and beyond to support the current administration led by Engr Seyi Makinde in order to attain dreamt development of all ramifications.
