Oyo state to revive marble company

Abiola Olowe, Ibadan

Efforts are underway to revive the moribund Nigeria Marble Mining Company located in Igbeti, Oyo state.

The governor of Oyo state, Senator Abiola Ajimobi made this known during the inauguration of a new management board, which is meant to inject life into the company.

The governor who blamed long decades of neglect of the company on lack of technology and capable technical partnership, said that the marble company had huge potentials capable of contributing substantially to the state’s revenue base.

Governor Ajimobi added that in the spirit behind the establishment of the Pacesetters-Polaris Free Trade Zone, which was conceived to generate high commercial activities and profit for the government, the constituted board will work to further justify his administration’s drive towards modern industrialization.

The governor reiterated that Oyo State currently has 30 per cent shares in the mining company but it is in the plan of the State to reduce it to 5 per cent in the future.

He therefore urged the board to attract foreign investors to boost the company’s financial and technical capacity.

In his remarks, the representative of the owner family, Chief Jacob Adetoro expressed his joy over the interest shown by the governor Ajimobi led administration to revive the company adding that this would benefit the owners and particularly the community as a whole.

He  promised on behalf of the management team that no effort would be spared to ensure that the company was revived.

The Caretaker Chairman Itesiwaju Local Government Hon. Adeniyi Adeagbo congratulated the people of Oke Ogun and the entire State for the step that will surely boost the economic development of the State.

The newly inaugurated team includes the Federal Government, Oyo State government, and Olorunsogo Local Government as well as representatives of the owner family – Chief Jacob Adetoro and Chief Connie – Jean Aremu (SAN).

Also part of the team is an official of the Federal Ministry of Solid Minerals, Zonal Mine (S/W), Mr Conatus Umaro, State Commissioner for Finance & Budget, Mr Abimbola Adekannbi, his Ministry of Justice counterpart Mr Seun Abimbola and Special Adviser to the governor on Solid Mineral, Hon Matthew Oyedokun.

The Nigerian Marble Mining Company started as Igbeti Mining Industries (IMI) Limited owned by Chief Oyedele Ashamu, but was later taken over by Oyo State Government in 1978.

The equity structure was 30 per cent to Oyo State Government, 25 per cent to IMI, 20 per cent to Federal Government, 10 per cent to Local Government and 15 per cent to Technical Partners.