We Need Proper Regulation Of Minning Industry To Block Financial Leakages – Mineral Resources Dev Agency Boss, Abiodun Oni
By Henry Odeh
The chairman of Oyo state Mineral Resource Development Agency, Mr. Abiodun Oni has stated the need for a conserted effort by all stakeholders and investors in the minning industry to ensure proper regulation that will block all loopholes to financial leakages which will in turn increase the Internally Generated Revenue (IGR) base of the state and reduce the rate of infrastructural deficits emanating from pausity of funds.
Mr. Oni, while on projects monitoring tour in company of top officials of the agency last weekend visited some quarries in the state for an on the spot assessment of true situation of things. Some of the quarries visited are TACKOL quarry located along Lagos-Ibadan express road, CNC quarry, and Prestige quarry, both located along Ibadan-Ijebu ode road.
The agency boss stated that one of the key problems facing the state in term of IGR is financial leakages arising from inadequate regulation of activities of miners and business operators in the industry noting that Oyo state is vastly blessed with large deposits of various mineral resources buried in the ground which he described as “wealth under the ground.” He vowed that he will ensure the industry gets properly regulated because the mandate given to the agency by the executive governor engr. Seyi Makinde is “for us to turn the fortunes of the agency around for good” he said.
Mr. Oni while expressing the government’s desires and plans to TACKOL quarry manager, Mr. King, a chinese national, stated that the state government is very pleased with the presence of the foreign investors in the state with their business activities, calling for a more robust relationship that will lead to creation of a China town in Ibadan as it is obtainable in Lagos state and other booming commercial cities around the world.
He therefore, charged quarry operators and owners to reallign themselves with the state government drive to revolutionize the state into a leading commercial hub in africa through continued relationship and synergy aimed at building a lasting economic legacy.
Mr. King while responding stated that Oyo state is beautiful and very safe for business especially the minning business and that he and his other friends and colleagues are happy with everything going on in the state under governor Seyi Makinde. He assured of his maximum cooperation with the state government in whatever areas it is required while noting that the idea of a China town is a welcome development and will be considered by the chinese community anytime the state government is ready for it.
Mr. Abiodun Oni however noted that reward mechanism will be incomporated into the program of the agency in order to motivate and encourage faithful and committed quarry operators with regards to full compliance to the state government policies and directives, and assured that the government will continue to create a business and inveators friendly environment for other prospective foreign and local investors.