Kwara Gov’t Sets Up 5 SPVs For Solid Minerals Dev’t

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

LEADERSHIP reports that Kwara State is blessed with abundant mineral resources, particularly 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 security of lives.

Speaking at an Inter-ministerial press briefing in Ilorin, the commissioner for Solid Minerals Development, Dr Afees Abolore, said the licences 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 they become operational, would enhance seamless investment opportunities in mining operations and also increase internally generated revenue potential of the state.

He said effort towards the reduction of illegal mining in the state to a barest minimum was in top gear.

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

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