July 16, 2024

Governor Ademola Adeleke Takes Bold Steps to Revitalize Mining Sector in Osun State



By: Ogunleye Oluwapelumi


Governor Ademola Adeleke has taken decisive actions to ensure maximum economic benefits for the state and its people, while also prioritizing environmental safety.


During a joint stakeholders’ business meeting with Segilola Resources Operating Limited, led by CEO Segun Lawson, held at the Governor’s office, several key agreements were reached.

Firstly, it was established that the Osun State Government holds shares in Segilola Resources Operating Limited, as well as in the parent company traded publicly in Canada and the UK. This reinforces the state’s commitment to the mining sector. Additionally, Hon. Kazeem Akinleye, the Chief of Staff, will represent the Osun State Government on the board of Segilola Resources Operating Limited, ensuring active participation in decision-making processes.


Furthermore, Segilola Resources Operating Limited will provide the state government with detailed information regarding royalties paid to the Federal government. This will enable the state to claim its rightful 13% derivatives, which will greatly benefit the people of Osun State. In compliance with the 2007 mining act, the state government will also establish the MIREMCO committee, comprising relevant representatives, to ensure effective governance and oversight.

To enhance synergy on environmental management and representation along the mining value chain, quarterly meetings will be held between the Office of Natural and Mineral Resources and the state government. This collaborative approach will contribute to sustainable development and responsible mining practices in Osun State.

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