The Minister of Solid Minerals Development, Dr. Dele Alake, has assured mining companies of the support of the federal government, provided they give priority to local content in their operations. This announcement was made during a visit to the Segilola Resources Operating Limited (SROL), an indigenous gold mining company in Osun State. Dr. Alake praised the company for its extensive work and high Nigerian staff composition, urging other mining operators to adopt similar international best practices to advance the sector.
Dr. Alake emphasized the significance of his 7-point agenda in revitalizing the mining sector, with a notable focus on ensuring the security of mining environments. As part of this agenda, the minister announced the creation of a mines marshal, with bases in all states of the country, to enhance security within the sector. He also stressed the importance of fostering positive relationships with host communities, commending SROL for surpassing its community development targets.
The Managing Director and Chief Executive Officer of Segilola Resources, Segun Lawson, appealed to the federal government for support to further scale up the company’s operations and contribute to the nation’s economy. The company, which produced 84,609 ounces of gold worth 194.4 million dollars last year, has demonstrated a strong commitment to local procurement and employment, spending N29 billion on local procurement and employing 98% local staff.
The company has also invested in various community projects, benefiting thousands of individuals and farmers, while also prioritizing environmental safety with zero incidents. In response, the Minister pledged the support of the Federal Government for SROL, recognizing its promotion of local content and positive impact on the host community through developmental projects.
The government’s commitment to support mining companies embracing local content is a positive step towards the development of the sector. Dr. Alake’s emphasis on enhancing the security of mining environments and fostering relationships with host communities indicates a concerted effort to address key challenges within the sector.
As the mining industry continues to evolve, the collaboration between the government and local mining companies will be crucial in driving sustainable growth and development. It is encouraging to see companies like Segilola Resources leading by example and garnering support from the government to further their contributions to the nation’s economy.