The Federal Government has launched Project Phoenix designed to enhance revenue generation and collection in the lottery and gaming sector.
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.
Speaking at the inaugural meeting of the Joint Committee for the implementation of Revenue Assurance Platform (RAP), which will oversee reforms in Nigeria’s lottery and gaming sector, held in Abuja on Thursday, the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, said the Project Phoenix aimed to establish a transparent and efficient revenue collection system that maximizes government earnings and protects citizens from fraudulent practices in the sector.
According to him, the project will also strengthen regulation, ensure compliance, recover outstanding revenues from operators, and implement advanced monitoring systems to safeguard consumers.
While stressing the importance of boosting domestic resources to support Nigeria’s economy and social programmes, Edun explained that the lottery and gaming sector, through the RAP, would ensure transparent revenue collection while protecting consumers from fraudulent activities.
He, therefore, urged all committee members to work collaboratively and assured them of the government’s support in achieving the project’s goals as the initiative demonstrates the government’s commitment to transparency and accountability.
Analysts believe that with Project Phoenix, Nigeria is taking a significant step towards harnessing the potential of the lottery and gaming industry for the purposes of improved socio- economic development of the country.
