*Dr. Oladele Alake, Minister for Solid Minerals Development, discloses a fact-finding team has been set up to engage the Osun State Government of Nigeria and Thor Explorations Limited UK, owners of Segilola Resources Operating Limited on the recent disagreement over taxation and operational matters towards resolving the dispute and restoring industrial harmony between the parties

Isola Moses | 绿帽献妻

Sequel to the recent altercations between the state and the gold-mining firm, the Federal Ministry of Solid Minerals Development is probing the claims and counter-claims of the Osun State Government and Thor Explorations Limited, the parent company of Segilola Resources Operating Limited (SROL) over taxation and operational matters in the state.

Dr. Oladele Alake, Honourable Minister for Solid Minerals Development (MSMD), who disclosed this development Friday, October 4, 2024, said that a fact-finding team had been set up to engage both parties towards resolving the dispute and restoring industrial harmony.

Dr. Oladele Alake, Honourable Minister for Solid Minerals Development

Led by Dr. Mary Ogbe, the Permanent Secretary of the Ministry, Mr. Segun Tomori, Special Assistant to the Minister on Media Friday stated the committee would include representatives of the Federal Inland Revenue Service (FIRS), Ministry of Labour and Employment, and National Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA).

The statement also noted the Minister observed that the Federal Government has been marketing opportunities for investments in the solid minerals sector across the world.

He, therefore, cautioned that closure of mining operations by subnationals could abort Nigeria鈥檚 efforts at attracting more Foreign Direct Investments (FDIs), and provoke divestment.

On closure of mining operations and attraction of FDIs to Nigeria

Dr. Alake said: 鈥淚ndiscriminate closures of mining operations by subnationals raises the risk of discouraging foreign direct investments and even worse, possible divestment by existing companies.

鈥淢ining is on the exclusive legislative list. The Ministry of Solid Minerals should be consulted before such disruptive actions are taken.鈥�

The Minister restated the Federal Government鈥檚 interest in raising the tempo of productive activities nationwide to boost economic growth, increase employment and community development.

He further stressed that any cessation of industrial production would undermine the goals of economic prosperity, deny workers the opportunity to earn income, and further contribute to adversity in the Nigerian economy.

Alake equally urged both the Osun State Government and Thor Explorations Limited UK cum Segilola Resources Operating Limited to cooperate with the fact-finding team and allow production to continue while the issues are resolved.

The Minister said: 鈥淚 hereby call on His Excellency, the Governor of Osun State, Sen. Ademola Adeleke, and the Management of Thor Explorations Limited to sue for peace and industrial harmony in the interest of the workers and their dependents who may be adversely affected by closure of operations at the factory.鈥�

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