Osun Records Increased Revenue In Mining Sector

Osun State Governor, Ademola Adeleke, said Thursday that reforms implemented by his administration have resulted in a significant increase in revenue from the mining sector in the state.

In a meeting with his Special Adviser on Mining and Solid Minerals, Prof Lukuman Adekilekun Jimoda, Adeleke noted that he had pledged to overhaul the mining sector upon taking office a year ago.

The goal of the reforms, according to the governor, was to maximize the state’s revenue from its abundant mineral resources.

“My strategy was to ensure that Osun genuinely benefits from its natural wealth within the federal framework,” Governor Adeleke explained. “We are now seeing positive results. We have secured a shareholding in Segilola Resources Operating Limited, and we expect further earnings from Segilola in the near future. As part of our overall plan, we have also increased our signature bonuses in line with current market conditions. We are indeed on track to commence mining processing early next year,” Adeleke said.

Prof Jimoda had while briefing the governor said, “We are recording an increase in revenue generation. Accumulated service charges on our licences have been cleared. We are at the tail end of upgrading our exploration leases to mining leases. This will bring more investors. I am elated to report that we have fulfilled that promise within a year of assuming office.

“We are now operating an environmentally friendly operation. EIA (Environmental Impact Assessment) and EMP ( Environmental management plan) is now a must before mining operation. Cleaning up the polluted environment is also ongoing. Our mining operation now has zero tolerance for environmental degradation,” he said.