The Federal Government of Nigeria has launched the International Gemstone Market as part of its Economic Sustainability Plan. However, Minister of Mines and Steel Development Olamilekan Adegbite used the opportunity to warn traditional leaders against engaging in illegal mining activities.
During the launch in Ibadan, Adegbite clarified that the Mineral and Mining Act 2007 does not protect traditional authorities and that mining sites belong to landowners, not local leaders. He also emphasized that the government would deal decisively with anyone caught engaging in illegal mining activities.
The newly established gemstone market is expected to produce competitive advantages in the downstream industries for the mining of gemstones and gold, as well as increase employment across all business ventures connected to the gemstone mining cluster.
In a speech delivered by the Commissioner for Energy, Temiloluwa Seun, Governor Seyi Makinde praised the government’s efforts to diversify the economy away from the oil and gas sector, with the aim of increasing internally generated revenue and providing jobs for citizens.
This warning to traditional leaders comes as part of the Federal Government’s efforts to combat illegal mining activities in the country and promote sustainable mining practices.