The first gemstone market in Nigeria was opened by Olamilekan Adegbite, Minister of Mines and Steel, fewer than 25 days before the conclusion of President Muhammadu Buhari’s administration.
Adegbite stated that the Mineral and Mining Act 2007 favors individuals and families as the legitimate owners of mining sites, not traditional rulers, during the opening of the International Gemstone Market on Thursday in Ibadan, Oyo State, as part of the Federal Government’s Economic Sustainability Plan.
The Okere of Saki, Oba Khalid Olabisi, asked the Minister about the operations of miners in his domain and the need to support local miners. The Minister responded in kind.
Adegbite said, “Rules and laws govern mining. What is happening at Okeho, Oyo State, as referred to by the traditional ruler, is nothing but an act of illegality.
“The 2007 Mining Act only recognises families and individuals as rightful owners of acquired mining sites, not traditional rulers.
“Based on this, exploration, not mining licences, are issued to the groups mentioned above. Traditional rulers can only advise, not play a principal role.”
He added that the Gemstone market would avail Nigeria an industry-based competitive advantage.
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