The Ultramodern International Gemstone Market Centre and the Artisanal and Small Scale Mining, ASM CLUSTER Project in Ibadan, Oyo State have been put into operation by the Federal Government under the Federal Ministry of Mines and Steel Development.
The commissioning is an opportunity to highlight the efforts
of the administration of His Excellency, President Muhammadu Buhari to open
some of the potentials available in the mining sector to serve as an
alternative revenue source, according to the Minister of Mines and Steel
Development, Arc Olamilekan Adegbite, who dedicated the Ultramodern
International Gemstone Market on Thursday, May 4, 2023 at old Adisa Quarry,
Ojoo Akinyele Express way Ojoo Ibadan.
In a statement made accessible to journalists in Abuja by
Funmi Imuetinyan, the Head Press Department Adegbite stressed that the concept
of the International Gemstone Market was a crafted policy to spur job creation
and capacity development of gemstones mining operators in Oyo State and
environs, through the Economic Growth and Sustainability Plan of the Federal
Government.
While noting that the project houses several Federal
Government initiatives geared towards curbing the smuggling of gemstones and
other minerals, he emphasized that the development of the capacities of
Nigerian youths to actively participate in downstream gemstone and gold value
chain is also very significant.
The Minister further explained that the project is designed
based on the cluster concept which has become a global trend in Industrial
Development to promote shared amenities, agglomeration of similar producers,
customers etc. based on geographical proximity and mineral endowment of rare
metals and gemstones across the country.
According to Arc Adegbite, the gemstone market will create
and generate sustainable competitive advantages in the Development of
downstream gemstone and gold mining industries; increase the level of
competitive inputs (such as services, machinery and equipment); increase the
level of employment in all business activities related to the gemstone mining
cluster.
Other significant advantages that will emanate from the
gemstone market as enumerated by the Minister include increase in the rate and exports
of value-added products and services; attraction of foreign investments;
ensuring that linkages and interactions are high-quality and beneficial;
generation of new start-up companies; increase in trade performance and
generation of higher corporate profits; improving mineral production output and
ease of mining sector regulation and administration as well as the creation of
more jobs through the emergence of service industries due to increasing in
cluster activities.
The Permanent Secretary Federal Ministry of Mines and Steel
Development, Dr Oluwatoyin Akinlade in her welcome address expressed
appreciation to the dignitaries and all attendees present at the Commissioning
which she described as a historic event that will usher in a new era of wealth
creation and prosperity in the Minerals and Metals Sector that will blossom in
Ibadan, Oyo State – the Pace-setter State, and eventually spread to the entire
country.
High points of the event include the presentation of mining
equipment to mining cooperatives and the Commissioning of the facility by the
governor of Oyo State ably represented by Barr Temilola Seun Ashamu,
Commissioner for Energy and Mineral Resources, Oyo State.
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