…As Gov. Adeleke Receives State’s Shareholding Certificate
The long-standing rift between the Osun State Government and Segilola Resources Operating Limited (SROL) has been amicably resolved following a high-level mediation led by the Minister of Solid Minerals Development, Dr. Dele Alake.
At a crucial meeting held in Abuja, Dr. Alake engaged Osun State Governor, Ademola Adeleke, and executives of SROL, emphasizing the importance of a harmonious relationship between state governments and mining operators. He stressed that conflicting policies and strained relations deter foreign investments and hinder the federal government’s economic diversification agenda.
“In a business environment with multiple regulatory authorities, foreign investors are discouraged,” Alake said. “Investors prefer countries with clear, streamlined, and consistent regulations. While solid minerals fall under federal jurisdiction, conflicting directives at the state level create uncertainties that impede growth.”
The dispute, which previously led to the shutdown of SROL’s operations by the Osun State Government, was investigated by a high-powered committee led by Engr. Ganiyu Imam, Director of the Ministry’s Mines Inspectorate. Based on the committee’s findings, Alake convened the mediation meeting to facilitate a resolution.
Governor Adeleke, acknowledging the minister’s role in resolving the conflict, reaffirmed Osun State’s commitment to creating a business-friendly environment while ensuring corporate responsibility. He assured that the state government was open to compromise for the sake of economic progress.
Prof. Lukman Jimoda, Special Adviser to the Governor on Mining and Mineral Resources, outlined key concerns, including tax disputes, the state’s shareholding in SROL, environmental issues, and Osun’s expected economic benefits from the company’s operations.
Following extensive discussions, both parties agreed to continue engagement to resolve outstanding matters. In a significant gesture of reconciliation, Segilola Resources Limited formally presented Osun State’s shareholding certificate to Governor Adeleke, marking a new chapter in the state’s mining sector.
The meeting was attended by key government officials, including Osun State’s Special Adviser on Media and Publicity, Olawale Rasheed, and representatives from Segilola, including MD/CEO Segun Lawson, Country Director Austin Menegbo, and Non-Executive Directors Folorunsho Adeoye and Kayode Aderinokun.
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