Economy

FG Inaugurates First International Gemstone Market in Ibadan

By Web News 1488 2

By Iyabo Adebisi

Federal Government has inaugurated the first international gemstone market in Nigeria, in Ibadan, the Oyo State capital.

The International Gemstone Market under the economic sustainability plan of the federal government is situated at Ojoo in the Akinyele Local Government Area of the state.

Speaking at the event, the Minister of Mines and Steel Development, Mr Olamilekan Adegbite said the project was in line with the President Muhammadu Buhari’s resolve to anchor his economic diversification agenda on two key sectors of Mining and Agriculture.

According to him, the ministry designed six strategic artisanal and small-scale mining, ASM, Cluster Projects in the six geopolitical zones.

He said the choice of Ibadan as a location for the International Gemstone Market is predicated on the rich deposits of gemstones in the zone.

Mr Adegbite noted that the International Gemstone Market in Ibadan for the Southwest Zone would create employment and wealth for the country. 

On the sustainability of the place, Architect Adegbite stated that the market would be sustained beyond this administration as it would be run by the ministry.

The minister commended the Oyo State government for the donation of the land on which the market was sited.

He said: “These landmark projects are to create an enabling environment to support the Mining Industry through the formalization of the ASM Sub-sector as a major driver of the key growth parameters to engender the development of the Mining Sector since over 90% of the Mining activities in the country could safely be said to be ASM driven.” 

“Over the years, a thriving informal gemstone market has evolved in Ibadan. The informal nature of the market gave credence to poorly regulated trading of mostly unprocessed gemstones, leading to capital flights and job losses. It is in a bid to leverage on this long-standing trading experience that the decision to establish the Artisanal and Small-Scale Mining (ASM) Cluster International Gemstone Market in Ibadan for the Southwest Zone was mooted”.

“This event has again provided an opportunity to highlight the efforts of the administration of His Excellency, President Muhammadu Buhari to open some of the potentials available in the Mining Sector to serve as an alternative revenue source”. 

“The concept of the International Gemstone Market was a crafted policy to spur job creation and capacity development of gemstones mining operators in Oyo State and environs, through the Economic Growth and Sustainability Plan of the Federal Government”. 

“This project houses several Federal Government initiatives geared towards curbing smuggling of gemstones and other minerals as well as the development of the capacities of our teaming youths to actively participate in downstream gemstone and gold value chain”. 

“It will interest you to note that this project is designed based on the cluster concept which has become a global trend in industrial development to promote shared amenities, agglomeration of similar producers, customers etc. based on geographical proximity and mineral endowment of rare metals and gemstone pegmatites (whose belt trend from Wamba, near Jos, in North Central Nigeria to Ago-Iwoye area in the southwest, Oyo State) or access to complementary expertise to promote efficiency and increase specialization and production.”

“Some of the notable envisaged outcomes from the International Gemstone Market include but are not limited to the following: 

Creation of over 20,000 jobs along the gemstone mining value chain in South-Western Zone cluster; Improved revenue generation from ASM subsector for both operators and government.” 

Inaugurating the project, Oyo State Governor, Engineer Seyi Makinde who was represented by the Commissioner for Energy and Mineral Resources, Mr Seun Ashamu lauded the federal government for the initiative.

Governor Makinde said his administration has designated solid minerals as a sector to grow the economy between 2023-2027 under the Omitutun 2.0 manifesto of sustainability.

The governor called on residents of the state and stakeholders in the gemstones market in the state to follow laid down rules.

In a message, the acting president of the Miners Association of Nigeria, Musa Mohammed who spoke through the Secretary, Dele Ayanleke commended different federal government’s efforts in the mining sector, appealing for facilitation of equipment leasing for members at various operation clusters.

Earlier, Permanent Secretary of the Ministry of Mines and Steel Development, Dr Oluwatoyin Akinlade, had intimated that the project was part of the government’s response to the COVID-19 pandemic to boost the value-chain of the Minerals and Metals Sector and to cushion the effects of the pandemic on our artisanal and small miners in the country.

The highlight of the ceremony was the presentation of Mining equipment to mining cooperatives by the minister, Mr Olamilekan Adegbite.

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Economy

Mines Ministry Brainstorms on Teething Problems

By Web News 688

Minister for Mines and Steel Development, Mr Olamilekan Adegbite says the ministry will be strengthened and reformed for optimal performance.

He stated this while speaking with newsmen in Ibadan shortly after delivering a keynote address at the ministerial retreat with the theme: Strengthen the Reforms in the Minerals and Metal Sector for Enhanced Productivity.

Mr Adegbite, noted that the retreat was geared towards reviewing the level of implementation of the roadmap for the growth and development of the Nigerian mining industry.

Mr Olamilekan believed that the retreat would address challenges confronting the sector in the area of revenue generation and other strategies for the overall development of the mining sector.

The Minister noted that though the Covid-19 pandemic affected some of the strategies the ministry designed in 2019, said the sector still recorded achievement in terms of application and downstream policy of the federal government in the sector.

He said: “Essentially, this is where we bring top management, and middle management of the ministry together to review our performances, focus out of the work environment and determine where we would like to be.”

“One of the things we are going to do at this session is to make sure that whatever we decide, goals we set for ourselves permeate down to the ministry. Those that are not here need to benefit, they need to imbibe the message, and they need to buy into it. That is the only way we can have continuity. That’s why we are here today for benefit of the sector for the benefit of the country.”

“One of the things we decided in 2019 is that we needed to make the application thing straightforward and easier, to make it online based. Fortunately in November, last year, Vice President Yemi Osinbajo launched the online portal for the MCO. We wanted to do a downstream policy to get away from exporting raw ore and of course, having processing. We export raw crude oil and import petroleum. We don’t want that in this sector and we have been able to achieve that as well. Federal executive council made it an official policy in late 2021, now you cannot export raw ore from Nigeria.

“This has given growth even to many other sectors because some people are now coming in as processors, they are not necessarily miners. They are attaching themselves to clusters. If people are mining kaolin in an area, I can bring a processing kaolin plant and I processed for you either for a few hours or I buy outright from you and I sell. These are some of the things we have achieved, which set to achieve at that time. Processing in the ministry, data management and all that some of this we achieved”

“There are other things we are not there yet in terms of where we like our revenue to be by this 2023, projecting to 2025. We started but Covid-19 has slowed us down. We need to review why we are not there yet, we need to review the”

In a remark, the Permanent Secretary, Ministry of Mines and Steel Development, Dr Oluwatoyin Akinlade said the ministry, through the retreat, would develop strategies that would promptly address lack of synergy, improve governance framework, boost revenue generation and attract needed funds to drive the sector.”

In a paper presentation, a geology expert, Professor Olugbenga Omunlola, who said the mining industry in Nigeria was not doing badly, stressed the need for the nation to look inward holistically on the global domestic trend in the mining industry.

Two of the participants, Mr Dateer Damuluk and Mrs Idowu Dupe were of the view that the retreat was timely and promised to utilize the outcome for the development of the mining sector.

Iyabo Adebisi

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Economy

Minister Advocates New Approaches To Address Unemployment

By Web News 664

The Minister of Mines and Solid Minerals Development, Mr Olamilekan Adegbite has underscored the need for new partnerships and approaches to turn the tide of unemployment in Nigeria.

He made the remark at close of a training on Photography organized by the minister’s aide, Mr Oluwadamilare Fawole for selected youths across the six southwest states of Nigeria held at the Obafemi Awolowo University, Ile Ife.

The Minister who was represented by his Senior Special Assistant Mr Olusegun Adedayo Pointed out that with daily increase in the number of unemployed youths and its consequence to national development, there was urgent need to seek other avenues to grow youth capacity to become self sufficient, explore and invest in new ventures such as the one provided by the media.

Mr Adegbite expressed delights that youths were beginning to take up innovative, creative and entrepreneural skills in building capacity and setting up their own enterprises, thereby creating jobs.

Speaking at the event, the sponsor of the free training who is also in charge of documentation in the office of the Minister of Mines and steel development, Mr Oluwadamilare Fawole said the programme targeted 300 young persons with 50 from each of the geopolitical zones.

Mr Fawole noted that global experiences from across the works had indicated that the private sector could provide jobs better, rather than the government,hence little efforts of individual citizens to transfer skills into the younger ones would go a long way to change the paradigm.

The sponsor of training advocated the inculcation of Photography into school curriculum, particularly at the elementary level so as to enable young people to decide early in life whether to give photography a career pursuit.

The participants who were elated at level of skill acquired during programme charged other skilled people to emulate Mr Fawole by voluntarily providing such opportunity and mentorship to raise amazing talents and create jobs.

At the end of the event, 3 participants who had the best photo expression went home with prizes including camera and other compliment.

The overall winner, Mr Sodiya Odunayo from Ogun State said despite the fact that he had taken photography as a means of livelihood to support his education for almost 4 years now, the training was a high opener on what 21st century commercial photography should be.

Similarly, a female participant, Miss Mercy Adebayo admitted that the programme had further challenged her that the female folks had potential to make an impact in photography,that was considered as a male affair.

Adenitan Akinola