The Osun State Government has acquired approximately 45 million shares in Segilola, valued at about ₦8 billion, and receives quarterly dividends of 54,000 Canadian dollars from the investment.
The Special Adviser to Governor Ademola Adeleke on Mining and Mineral Matters, Professor Lukman Jimoda, disclosed this in an exclusive interview with Voice of Nigeria (VON).
Jimoda, who also chairs the Mineral Resources and Environmental Management Committee (MIREMCO) and serves as Managing Director of the state-owned Omoluabi Mineral Processing Company, said the government was working to strengthen revenue generation through its mining assets and improve the collection of payments from artisanal miners.
He explained that Osun State held mining licences covering several locations, including Osun, Kogi, Ebonyi, Kaduna, Niger and Zamfara states, as well as areas bordering Oyo and Kwara states.
According to him, some of the licences were acquired during the administration of former Governor Olagunsoye Oyinlola.
Jimoda said the state was seeking credible investors to develop its mining sector, boost internally generated revenue (IGR) and create additional economic opportunities.
On environmental protection, the managing director said the state government was collaborating with the Federal Mines Office, the Ministry of Environment and other stakeholders to promote responsible mining and prevent pollution of the Osun River and other water sources.
The professor of chemical engineering, who specialises in environmental engineering, said stakeholders had received training on Environmental Impact Assessments (EIAs) and Environmental Management Plans (EMPs) to minimise the environmental effects of mining activities.
However, Jimoda identified rising federal government charges as a major challenge facing the sector.
He said charges that previously ranged between ₦10,000 and ₦15,000 had reportedly risen to about ₦500,000 per unit for a mining lease, potentially increasing the financial burden on operators.
He appealed to the Federal Government to review the charges to encourage investment and support the growth of the mining industry.
Jimoda also commended Governor Adeleke for giving him the opportunity to serve in the administration and for supporting professional development among mining geologists through training programmes and conferences.
He expressed optimism that increased investment, stronger collaboration between federal and state authorities, and improved environmental management would further develop Osun State’s mining sector.
