FG, Makinde Vow to Use Solid Minerals as Spring Board to Put Economy on Accelerated Path

The Federal Government and Oyo State Government on Tuesday vowed to use solid minerals as a spring board for the diversification and development of the economy.

This came to the fore during a courtesy visit of the Minister of State for Mines and Steel Development, Chief Uche Ogah and his team to Governor Seyi Makinde at the Governor’s Office, secretariat, Ibadan.

Ogah said the visit became imperative as a result of strategic importance of the state in solid mineral.

The minister was in town for the 56th annual international conference and exhibitions of the Nigerian Mining and Geosciences Society (NMGS).

He added that the rich-mineral endowment of the State and being the seat of the University of Ibadan has contributed large numbers of earth scientists as members to NMGS.

Ogah said:“Your Excellency, the choice of Oyo State by NMGS to host this important International Conference is by no means a coincidence but predicated on the fact that Oyo State is very strategic to the Society and MMSD given the rich-mineral endowment of the State beside being the seat of the premier University of Ibadan which has contributed large numbers of earth scientists as members to NMGS.

“As I indicated earlier, available records show that Oyo State is richly endowed with different mineral types occurring in commercial quantities and grade in several locations across the State.

“We at the Ministry of Mines and Steel Development share in the belief of your Government that with the support of development partners, stakeholders, corporates, business friends and of course well-wishers of Oyo State, the State can be transformed into a physically functional, economically vibrant, socially harmonious and most preferred sub-national mining destination in Nigeria”.

The minister also thanked Governor Makinde for partnering with the Federal Government on the development of gemstone market in the state.

“Finally, I must thank you for graciously partnering with the Federal Government in the development of a Gemstones and Precious Stones market by providing the project with a 2 Hectare land site located at Ojoo, along Ibadan – Oyo road, in Akinyele Local Government Area. This is part of the palliatives recommendation from the Economic Sustainability Plan Committee chaired by the H.E. Vice President to cushion the impact of COVID-19 on our economy. This has shown true commitment to enhancing the development of the solid minerals sector and increase the Internally Generated Revenue, IGR of your State through economic diversification”, he added.

Responding, Governor Makinde said the cardinal objectives of his administration are in line with the aspirations of the Federal Government which are to develop and diversify the economy.

The governor emphasized that the two tiers of governments would work together to develop solid minerals and other sectors rapidly.

Makinde said :“This administration is standing on four major pillars; education, security, health and expansion of our economy. Hosting of the International Conference actually falls within the expansion and diversification our economy, which also ties into the national aspiration of diversification of the economy.

“Oyo State is blessed. The diversification of our economy is also broken into three broad areas based on the comparative advantage that we have in Oyo State. We are looking at agriculture and agro-processing simply because Oyo State has a landmass of about 29,000square kilometres.

“Our economy, we believe a lot of people will come and we can utilize that to expand our economy.

“Also, we believe that if we have to move away from oil, solid mineral development is an area that should assist us to win us from just waiting for oil money to come from Abuja.

“We are here to support the national aspirations. We will work together to ensure that it is developed rapidly.

“I must also mention that Ojoo is probably where prices of most minerals are determined for Nigeria. It is an underground market but we want them to come into open, trade freely and pay necessary taxes to the government. So, I will ask that the Federal Ministry of Mines and Steel should work with us to develop the market and we are ready to do everything possible to ensure it takes off quickly as possible.”