Nigeria’s gaming industry has continued to experience rapid growth, driven by population demographics, increased internet access, and the popularity of football, resulting in increased engagement in sports betting, lotteries, casinos and other gaming activities. As the industry expands, the tax and regulatory framework continues to evolve.
Before the Tax Reforms
- Before the recent reforms, the gaming industry operated under a mix of Federal and State laws, creating overlapping regulation and increased incidence of multiple tax.
- In addition, the Withholding Tax (WHT) Regulations 2024 introduced WHT on winnings from lottery, gaming, reality shows etc. involving unincorporated persons — 5% for residents and 15% for non-residents.
