Nigeria Spends $79 Million Per Year On Imported Lottery Technology

Niyi Adekunle, Managing Director and Chief Executive Officer of Nigeria's Lotgrand, whose company promotes the lotto business in Nigeria with the Machine Number Series (MNS), has revealed that the West African country's purchasing and maintenance of technology to run the lottery costs the country $79 million per year.

“We can save huge foreign exchange for the benefit of the economy if our technology sector can support our business with the right technology software and hardware,”Niyi Adekunle, Managing Director and Chief Executive Officer of Nigeria's Lotgrand

Adekunle also explained that the hardware component alone made up 40 percent of their technology expenses to run the Nigerian lottery while software licenses and services make up another 20 and 40 percent respectively of their annual technology budget. Adekunle believes they could save huge costs especially on foreign exchange if Nigeria's technology sector "can support our business with the right technology software and hardware,

Things don't look rosy either for 2017 as Nigeria' lottery operator expects their technology costs to increase sharply as a result of the country undergoing a recession and the Naira-Dollar exchange rate.

Adekunle as gone on to make a statement requesting Nigerian technology companies to come forward with software and hardware solutions for the lottery operator and to compete for a share of their lottery technology spending.

Comments