Stakeholders in the gaming industry in Oyo State have been urged to collaborate more with the state government, regulators and consumer rights groups to bring about more innovations and consumer safety within the sector.
The Oyo State Gaming and Lottery Board made this call at the 6th edition of the Stakeholders’ Interactive Forum tagged “Boom or Burst,” which was organised by the Board on Wednesday.
At the event, which had in attendance critical stakeholders in the gaming industry, the government advocated for a need to create a balanced approach that would foster growth without compromising the safety and well-being of players.
Chief of Staff to the governor, Otunba Segun Ogunwuyi, who was represented by the Permanent Secretary, Cabinet Office, Mr. H.T. Salami, called for a robust framework that would guarantee innovations while also safeguarding the consumers in the gaming sector.
He charged all stakeholders to work effectively with the state government to provide this framework, adding that the administration of Governor ‘Seyi Makinde, remains open to ideas that will culminate into the expansion of the state’s economy in line with the vision under Omituntun 2.0: Roadmap for Sustainable Development of Oyo State, 2023-2027.
The state government pledged to work with all relevant bodies to implement frameworks that will address concerns in the gaming sector, while it also promised to continue to support the growth of the local gaming sector.
Earlier in his welcome address, the Director-General, Oyo State Gaming and Lottery Board, Mr. Olajide Boladuro, explained the important need for collaboration among stakeholders involved in the gaming ecosystem.
Boladuro, who appreciated the state governor, Engr. Seyi Makinde, for providing an enabling environment for businesses to thrive in the state, lauded the administration’s commitment towards ensuring fairness and strict compliance to gaming regulations as well as the creation of a level-playing field for investors and players.
He equally noted that innovation in the gaming industry remained crucial to driving the state’s economy forward, adding, however, that such innovation could not come at the expense of consumer protection.
He said: “As a government, we are committed to ensuring that our citizens, particularly young people, are protected from potential harm while still enjoying the benefits of this vibrant industry.
“We’re here today because it’s our 6th stakeholders’ forum. This is a yearly event that we do, which brings our operators together and basically all the stakeholders in the entire industry for them to come and deliberate and give us their own perspectives on how we’re doing. The platform is also to share ideas because the gaming industry has evolved.
“So, we titled this year’s edition ‘Boom or Burst’ in the sense that the way things are evolving technologically and a whole lot of other ways, is it helping the industry or bursting it? That’s how we came up with this year’s theme.
“So, we want to engage our stakeholders in the industry in lotto, sports betting, and online betting platforms, to understand how this is being impactful on their businesses and also the regulators as well,” Boladuro said.
The meeting was attended by industry leaders, game developers, consumer rights advocates and regulatory bodies, with discussions held on several key initiatives to strike a balance between progress and safety, which include stronger age verification system, transparency, data privacy and security, and addiction prevention mechanisms, among others.
In their separate remarks during a panel session, stakeholders welcomed the government’s initiative.
They, however, cautioned that regulatory measures should not stifle creativity or innovation, adding that it was essential that regulations should not be so restrictive as to hamper the creativity of developers.
They also encouraged a partnership approach, where government, industry and consumers will collaborate so as to ensure that the industry protects both players and the integrity of the gaming ecosystem.