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Clement Adeyi, Osogbo
The State of Osun received the sum of N100 million from Badger Mines, a Canada-based mining company, as sign- on fee for the exploration and development of one of its mining titles.
The State Governor, Mr. Adegboyega Oyetola, disclosed this on Tuesday in his address at the opening ceremony of the three-day Economic and Investment Summit holding at Aurora Event Centre in Osogbo.
The governor disclosed that the government had earlier executed a Memorandum of Understanding (MoU) with the mining company as part of preparation for the commencement of mining operations in the state. He expressed optimism that the summit would achieve the desired results going by the positive responses so far from key players in the private sector, adding his administration was fully prepared to provide all the support required for investment to thrive, particularly in mining, tourism and culture and agriculture sectors.
He said, “Our mining sector, like agriculture, is an old industry yet to be fully harnessed. The State of Osun has ample reserves of a variety of minerals, notably gold, lead/zinc, quartz, feldspar and several other precious metals.
“We occupy a unique place in Nigeria’s mining sector. We are a mining state that hosts solid minerals. We are also a state that has invested in acquiring the licences for solid minerals under our land from the Federal Government.
“No other state in Nigeria can offer the unique combination of both regulatory and commercial fusion. We are a risk-ready state with an appetite for enterprise and reward for winnings.
“The state acquired 17 mining licenses for Gold – 10; Quarry – 4; Lead/Zinc – 2; and Quartz and Feldspar -1, from the Nigeria Mining Corporation, and we are willing to partner with interested local and foreign investors to develop these mineral resources.
“Our policy for the mining sector is implemented and overseen by the Osun Solid Mineral Development Programme. This programme commenced in June 2019, and has already achieved some encouraging milestones in its First Quarterly Report in 5 of the 7 intervention project areas of the programme.
“The intervention areas are Osun/Omoluabi Mining Business Restructuring Scheme (OMBRS) to commercialise the state-owned mining company. Osun Revenue Diversification and Maximisation Scheme (ORDMS) is a scheme to register all miners, mines and mining equipment and report on all mining activities in the State in partnership with private sector technology partners.
“We are happy to report that 9,000 artisanal miners have registered their biometric data on RFID-enabled tags with our technology partners. I am also happy to inform you that Osun recently executed an MoU with the renowned international mining firm – The Badger Mines – for the exploration and development of one of our mining titles with a signature bonus of a Hundred Million Naira (N100m) already paid.”
In his remarks while declaring the three-day summit open, the Vice President of Nigeria, Professor Yemi Osinbajo, commended the state government for hosting the event, which he described as impressive and organised.
Osinbajo, who was represented by the Senior Special Assistant to the President on Trade and Investment, Dr. Jumoke Oduwole, also lauded the governor for providing what he described as focused inspirational and well-meaning leadership in the state.
He said, “I am particularly very delighted visiting Osun, widely acclaimed for its rich cultural heritage, hospitality and the enterprising tradition of her people. Peaceful, virtuous, resilient and vibrant, Osun is a pride of the nation…”
“As a choice tourist destination, Osun is certainly most enriched in terms of its widespread iconic tourists’ sites, globally-acclaimed festivals such as the popular Osun Osogbo festival, Olojo festival, among many others.
“Aside its fertile land which makes agriculture thrive unusually, the array of its mineral-resource blessednes, Osun is also fortunate to be home to some of the nation’s most highly gifted and accomplished citizens. Undoubtedly, Osun is a profoundly blessed State.”
The Vice President further noted that the objectives of the Summit is in tandem with the Diversification Agenda of the Federal Government, adding that the governor has demonstrated exceptional leadership in building on the achievements of his predecessor and particularly in his aggressive pursuit of economic rejuvenation of the state.
Also speaking on the occasion on behalf of the traditional rulers, the Ooni of Ife, His Imperial Majesty, Oba Adeyeye Enitan Ogunwusi, Ojaja II, implored all indigenes of the state to support the government in its frantic bid to make the state the economic hub of the country.
Meanwhile Vice-president, Professor Yemi Osinbanjo has assured the Nigerian populace of prosperity and economic development.
He noted that the APC -led administration was currently taking pertinent steps in redirecting the economy of the nation towards attaining economic prosperity and sustainability across the nation through appropriate economic decisions which Nigeria, as the most populous nation, must key into to attain the height.
Osinbajo stated this in Osogbo, the Osun State capital, on Tuesday while speaking at the ongoing Osun Economic and Development Summit, tagged: “Pathway to Economic Growth and Prosperity for the State of Osun.”
The Vice-president, who was represented by his Senior Special Assistant on Ease of Doing Business, Dr Jumoke Oluwole, called on the Osun State Government to swiftly move to maximally explore the array of economic potentials in the state.
He enthused that the state had better advantage in mining and tourism potentials to drive its economy.
Governor Gboyega Oyetola said that the agrarian nature of the state had put it in a vantage position to embark on a massive agricultural investment to develop the economy of the state to inspire prosperity for the people.
He reiterated the commitment of his administration towards providing an enabling environment to ease business activities across all sectors in the state.
“Agriculture is Osun’s biggest sector. Osun is blessed with the right conditions for multi-crop cultivation and suitable for agriculture investment,” he said.
“Being largely an agrarian economy with fertile and expansive landmass, we are at the most- suitable location for agricultural investment,’’ the governor said.
On mining, the governor said the state was blessed with a variety of mineral resources such as gold, lead/zinc, quartz, feldspar and precious metals, which had yet to be fully harnessed.
“We occupy a unique place in the mining sector in Nigeria. We are a mining state that hosts solid minerals.
“We are also a state that has invested in acquiring the licenses for solid minerals under our land from the Federal Government.
“No other state in Nigeria can offer the unique combination of both regulatory and commercial fusion.
The Minister of Youths and Sports Development, Mr Sunday Dare in his remarks as one of the panelists opined that with 67 millions youths in Nigeria, the youths are the most vibrant factor of production.
He however explained that many of the youths could not take advantage of many employment opportunities, especially in the Information and Communication Technology (ICT) sector for what he termed lack of technical skills.
Dare therefore implored every strata of government to urgently and hugely invest in the youths for a prosperous future, adding that “ An investment in Osun Youths and Nigerian youths in general will bring about gains today and not tomorrow.”
The minister also advocated mechanised farming to guarantee food security, as well as injecting technology into vocational training to build virile human capital among the youths.
Another member of the panel and Chairman, Bi-Courtney Group of Companies, Wale Babalakin
made case for private/ public sector -driven development agenda, in which private sector drive of doing business would be brought to bear in development plan and policy implementation.
He argued that governments in emerging economies of Africa lacked necessary financial muscles to adequately provide infrastructure and embark on other capital -intensive projects, including education, hence, the need for synergy with private investors.
On the tenets of Public Private Partnership, Babalakin advised the government of Osun to negotiate development projects with private partners with “cerebral inputs “ for optimal benefit .
“Investment needs cerebral inputs during negotiations, because cash without intellectual inputs is nothing,” he said.
