Solid Minerals Development:  Kwara Govt Registers 5 SPVs

The Kwara State government has fulfilled the registration requirements of five Special Purpose Vehicles (SPVs) that will aid seamless investment opportunities in mining sector in the state.

LEADERSHIP reports that Kwara is blessed with abundant mineral resources, especially in the northern part of the state.

However, the seeming absence of regulatory policies has encouraged illegal mining operations in the state, with its attendant threats to the security of lives.

Speaking at an Inter-ministerial press briefing in Ilorin, the commissioner for Solid Minerals Development, Dr Afees Abolore, said the licenses for the five SPVs on mining operations in the state would be issued “on or before the end of the first quarter of the year, all things being equal. ”

He said the SPVs, when operational, would enhance seamless investment opportunities in mining operations and also increase the state’s internally generated revenue potential.

He said  efforts were in top gear to reduce illegal mining in the state to the barest minimum.

Abolore said the state government would continue to partner with the Federal Ministry of Solid Minerals Development and other relevant stakeholders to boost mining practices and other solid minerals-related activities in the state.

He noted that Kwara has been identified as one of the leading solid mineral-producing states in the country, assuring that the ministry under his watch would exploit the full potential of the state’s huge mineral resources.