Kwara To Acquire Mining Sites, Registers 5 SPVs

The Kwara State government has registered five special purpose vehicles as part of measures to acquire viable mining sites and make the state a major producer of solid minerals.

The state governor, AbdulRahman AbdulRazaq, who disclosed this in Ilorin, said each of the 16 local government areas of the state is blessed with abundant viable mineral resources in commercial quantity, and invited investors to tap into the natural endowments.

AbdulRazaq spoke at the 5th annual conference of the National Council on Mining and Mineral Resources Development (NCMMRD), which drew delegates from the 36 states of the federation.
“We plan to establish a standard mineral market in the state, where all minerals mined from our state will first be registered before they are transported to other places,” he said.

The governor commended the choice of Kwara to host the council, hoping that resolutions reached at the end of the meeting would rev up development in the sector.

He thanked President Bola Tinubu for the bold investments to diversify the economy.

“The need to diversify the economy and harness potentials in the solid mineral and other sectors cannot be overemphasized. The excessive reliance on oil has proven to be unhelpful for our country, and I’m glad we appear to have learnt our lessons.”

In his remarks, the minister of state for mines and steel development, Uba Maigari, said steel is the backbone of modern infrastructure and the foundation upon which other sectors thrive, adding that the industry was key for job creation, community empowerment and diversification of the economy.

Earlier, the Kwara State commissioner for solid minerals development, Abdulqowiyu Olododo, had said the state government was collaborating with security agencies to ensure the safety of investors within the Kwara borders.