…says indiscriminate closure of mine operations will discourage investors.
Written by Gabriel Ewep
ABUJA – The Minister of Solid Minerals Development, Dr. Dele Arake, has intervened in the feud between the Osun State Government and Toll Explorations Limited, owner of Segilora Resources Operating Limited, over tax and operational matters.
This was disclosed in a statement signed by the Special Assistant to the Minister of Solid Minerals Development, Mr. Segun Tomori, in which Arake today announced the following facts to engage both parties towards resolving the dispute and restoring the industry. He announced that he had set up an investigation team. Harmony.
However, the statement said the Ministry of Solid Minerals Development is investigating the allegations and counter-claims between the Osun State government and the company on the issue that gave rise to the disagreement.
The statement read: “The Minister of Solid Minerals Development, Dr. Dele Arake, today announced that a fact-finding team has been established to engage both sides towards resolving the dispute and restoring industrial harmony.
“The committee, headed by Dr. Mary Ogbe, Permanent Secretary, Ministry of Solid Minerals Development (MSMD), will include representatives from the Federal Inland Revenue Service (FIRS), the Ministry of Labor and Employment, and the National Association of Chambers of Commerce and Industry. Industry, Mining and Agriculture (NACCIMA).
“The Minister observed that the Federal Government is touting investment opportunities in the solid minerals sector around the world, noting that the closure of mining operations by sub-nationals has halted efforts to attract foreign direct investment (FDI) and divestment. warned that it could cause
The statement quoted Arake as saying, “The indiscriminate closure of mining operations by parastatals increases the risk of discouraging foreign direct investment and, worse, divestment by existing companies. There is a possibility.” Mining is on the legislative exclusive list. The Ministry of Solid Minerals should be consulted before such destructive action is taken. ”
The Minister reiterated the Federal Government’s interest in increasing the tempo of productive activity across the country to foster economic growth, increase employment and foster community development.
However, the Minister warned of the impact of this issue, noting that the suspension of industrial production would undermine the goal of economic prosperity, deprive workers of the opportunity to earn an income, and lead to further adversity.
He (Arake) therefore called on both sides to cooperate with the fact-finding team and allow production to continue until the issue is resolved.
“I hereby appeal to the Osun State Governor, Senator Ademola Adeleke and the management of Toll Exploration Limited, in the interest of the workers and their dependents who may be adversely affected by the shutdown. , we call on you to sue for peace and industrial harmony in the factories,” he added.
