Adeleke Okays FG’s Intervention On Thors, Osun Tax Dispute

Governor Ademola Adeleke of Osun State yesterday said the intervention of the Federal Ministry of Mines on the state’s tax disputes with Thors Explorations Limited was in order, saying the state has validated claims within the context of the constitution and extant laws.

A statement by the governor’s spokesperson, Mallam Olawale Rasheed, stated that the governor had earlier called the Minister of Mines, Dele Alake. The state supports all efforts to drive foreign direct investment into Nigeria, but such investors must be transparent, obey local laws, and protect the environment from degradation.

Explaining that the state government had opened discussions and negotiations with Thors Exploration since 2023 without any results, Adeleke said Segilola Resources Operating Limited has an accumulated tax liability of N3.25 Billion with a Demand Notice issued in April 2024.

The governor, who said Osun has the legal rights to collect tax liability, also noted that Thors Explorations was operating six other companies on the site without disclosure to the state government for tax and environmental accountability purposes.

He listed the companies:  SINIC Engineering Limited, ATF Consulting Limited, Monument Nigeria Limited, Rabaa Cleaning Limited, Deep Rock Drilling Services and CEFO Security Limited.

The governor further explained that Thor Exploration Limited confirmed that Osun has 5,190,896 units of shares of Thor Exploration, United Kingdom, insisting that Osun is entitled to collect financial implications to date as a shareholder.

While lamenting the extensive environmental degradation occasioned by Thors’ mining activities in the state, Adeleke said the company must pay for ecological reclamation even as the environment is on the concurrent legislative list.