FG to establish gemstone market in Oyo


The Federal Government has assured that it would situate and formalize the establishment of gemstone market in Oyo state with the collaboration of the state government

The Minister of Mines and Steel, Mr Olalekan Adegbite, disclosed this on Thursday evening when he paid a courtesy visit to the Oyo state Gov Seyi Makinde of Oyo state, at the Government House, Agodi in Ibadan.

Adegbite explained that his visit was geared towards sensitising local investors on the various potentials inherent in the minning industry in line with the Federal Government mandate of diversifying the economy, ensuring the minning sector create employment and generate revenue into government coffers.

He further hinted on the discovery of some minerals that would be mined in the future and assured that the Federal Government would work at regulating the mining section, also curb illegal activities of miners in the state

In his response, Gov Makinde agreed that Oyo state gemstone market with the mineral surveillance programme needed to be formalized and acknowledged that collaboration with the Federal Government was necessary in repositioning the sector

He equally called the attention of the Federal Government, to its responsibity at Igbeti Marble in the state, bearing in mind the Federal Government owed a 20 per cent shares in Igbeti marble

He also made it known that mineral of the future had been discovered in Oyo state and pledged that his administration remained committed to creating a viable economy in the state

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He further sought for the support of the Federal Ministry of Mines and Steel, to curb the activities of illegal miners in the state saying the intervention was required to end the illegal mining.

He stressed that there was need for effective collaboration between the ministry and the state government so as to reduce to the minners’ activities to the barest.(NAN)

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