Wednesday, 13 January 2021 05:38

FG secures funds, land to build gemstone market in Ibadan – Minister

Rate this item
(0 votes)

Minister of Mines and Steel Development, Olamilekan Adegbite, says the federal government is set to build a gems’ market in Ibadan, Oyo State.

Adegbite made this known on Tuesday in Ibadan when he received two hectares of land documents donated for that purpose by the Oyo State Government.

The land is located at Ojoo, along Ibadan – Oyo road, in Akinyele Local Government Area of the state.

“This is an initiative of President Muhammadu Buhari; part of the post Covid-19 palliatives that is being done by Ministry of Mines and Steel Development.

“Its aim is to develop the activities in the sector within the six zones in the country.

“For the Southwest zone, we chose to promote gemstone trading, which is already going on in Ibadan – as an informal market in Ojoo area of the state,” the minister said.

He explained that the whole idea was to formalise the market, asserting that gemstone business has become an international business.

He added that the market would enhance gemstone trading and be beneficial to the Federal, state and local governments.

“Also, it will spur activities for people, enhance market, at the same time improve the local economy and also generate revenue for government, both at the state and Federal,” he added.

The minister acknowledged the support of the state government to make things move, “through the donation of the land for the project.

“We have the land now and can begin to do what is necessary: we need to do the architecture, planning and the construction of the market.

“Then, move the informal market at Ojoo to this place after its completion,” he said.

He said that funding for the project was already available, assuring the people that his ministry would try its best to complete the project for inauguration before the end of this year.

In their separate remarks; the state Commissioner for Energy and Mineral Resources, Seun Ashamu and Executive Chairman of the Oyo State Solid Mineral Development Agency, Abiodun Oni, unanimously noted that the project would complement the diversification plans of the Gov. Seyi Makinde-led administration.

The duo also said that the establishment of the gemstone market would boost the internally generated revenue of the state.

 

NAN

May 30, 2025

Nigeria's $3bn fashion drain: How import dependence undermines local textile industry

Nigeria's fashion sector is hemorrhaging billions of dollars annually due to overwhelming reliance on imported…
June 01, 2025

‘Nigeria under siege by urban bandits, poverty weaponized’ – Atiku, El-Rufai warn

Former Vice President Atiku Abubakar and ex-Kaduna State Governor Nasir El-Rufai have issued a scathing…
June 01, 2025

Her daughter was taken and sent abroad - 44 years later, they found each other

The last memory Han Tae-soon has of her daughter as a child is in May…
May 31, 2025

Tools made of whale bones reveal inventiveness of prehistoric people

Artifacts found at archeological sites in France and Spain along the Bay of Biscay shoreline…
May 31, 2025

Troops kill 60 terrorists and top ISWAP commander in Borno, as FCT mourns 11 killed…

Nigerian troops have killed over 60 terrorists in Borno State during a series of operations,…
June 01, 2025

What to know after Day 1193 of Russia-Ukraine war

WESTERN PERSPECTIVE Russia launches air attack on Ukraine's capital Kyiv, mayor says Ukraine's air defence…
May 29, 2025

AI system resorts to blackmail when its developers try to replace it

An artificial intelligence model has the ability to blackmail developers — and isn’t afraid to…
May 13, 2025

Nigeria's Flying Eagles qualify for World Cup after dramatic win over Senegal

Nigeria's U-20 national football team, the Flying Eagles, have secured their place at the 2025…

NEWSSCROLL TEAM: 'Sina Kawonise: Publisher/Editor-in-Chief; Afolabi Ajibola: IT Manager;
Contact Us: [email protected] Tel/WhatsApp: +234 811 395 4049

Copyright © 2015 - 2025 NewsScroll. All rights reserved.