Local Lottery: How Nigeria loses billions of naira yearly to foreign technology

Nigerian lotteries were immensely successful in 2016 but a big chunk of their revenue was spent on importing technology.

Thanks to our now-infamous recession and the CBN's absurd foreign exchange policy, the biggest problem of the average Nigerian in 2016 was money.

In truth, it has been our reality for a while, but in 2016, few people could boast of a steady stream of income that put money in the bank. Those with money in the bank faced all sorts of difficulties in converting their account balances into cash, as those with cash watched it become worthless in the palms of their hands and their wallets.

From this perspective, it is little wonder that lotteries of all kinds became insanely popular in the last year. A common sight around the country is small crowds of young men with sheets of paper in hand, plotting the permutations that would bring them some free cash to fortify their finances.


By Segun Akande.
Full story at Pulse NG.