EconomyNews

Oyo state, FG begin process to Establish Gemstone market in Ibadan

Oyo State Government, on Tuesday, handed over two hectares of land to the Federal Government for use as International Gemstone Market.
The Oyo State Commissioner for Energy and Mineral Resources, Barrister Temilolu ‘Seun Ashamu, who performed the handing over, said Governor Seyi Makinde remained committed towards the diversification of the state’s economy through the development of the solid mineral resources sector.

Ashamu, during the handing over of over two hectares Gemstone Market site located at Ojoo area of Ibadan to the Federal Government, gave the above commitment.

Notable that Gemstone mining has an informal sector in Akinyele local government in Oyo state for sometimes now

A statement by the Chief Press Secretary to the governor, Mr. Taiwo Adisa, indicated that the commissioner, who was with the Executive Chairman of the Oyo State Solid Mineral Development Agency, Mr. Abiodun Oni, handed the Gemstone Market site to the Minister of Mines and Steel Development, Arc. Olamilekan Adegbite.

The commissioner stated that the siting of the market was part of the agreement reached with the Federal Government, explaining that, on completion, it will enhance the development of the solid mineral sector and increase the Internally Generated Revenue, IGR, of the state.

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