A prominent member of the All Progressives Congress (APC), Dr. Abayomi Nurain Mumuni, has expressed concerns regarding the Supreme Court’s recent nullification of the National Lottery Act 2005. In letters addressed to President Bola Ahmed Tinubu and Chief Justice Kudirat Kekere-Ekun, Mumuni highlighted the potential legal and economic risks posed by the judgment.
The Supreme Court’s decision, following a 2008 suit by Lagos and other states, invalidated the National Lottery Act. Mumuni stated that this verdict creates legal uncertainties that could harm stakeholders in the lottery industry, including local and international investors.
“Stakeholders have made significant investments based on a stable regulatory environment. This ruling risks triggering litigation both domestically and internationally, eroding investor confidence and potentially affecting the economic contributions of the lottery sector,” Mumuni warned.
In his letter to President Tinubu, he urged the federal government to engage the Attorney General in reviewing the ruling. He called for a collaborative dialogue with stakeholders to develop a solution that maintains judicial integrity while safeguarding investments.
Mumuni emphasized that proactive measures are essential to reassure investors, enhance government revenue through a well-regulated lottery system, and preserve Nigeria’s appeal as a business-friendly destination.
The APC chieftain expressed optimism that under President Tinubu’s leadership, the challenges in the lottery industry could be effectively addressed to foster growth and stability.
