Governor Seyi Makinde of Oyo State has revealed his administration’s commitment to elevating the state’s solid minerals sector onto the global stage through strategic partnerships,leadership reports.

The governor disclosed that his government is actively pursuing collaboration with Fasken’s Global Mining Group, one of the world’s largest mining corporations, with the aim of developing the state’s solid minerals industry and revitalizing the state-owned limited liability firm, Pacesetter Mineral Development Company.

Governor Makinde had previously identified solid minerals as a substantial revenue source for the state, motivating the decision to attract investments into this sector and establish necessary infrastructure. He emphasized that the partnership with Fasken aligns perfectly with the state’s objective of fostering growth in the solid mineral sector and expanding the state’s economy through mineral development.

Governor Makinde recently led an Oyo State delegation to meet with Fasken Group’s leadership in London to initiate this collaboration, assuring the group of the government’s unwavering dedication to transforming the state into a global hub for mineral development, thereby ensuring economic growth and sustainability.

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The Oyo State team articulated its plan to harness Fasken’s renowned industry connections, expertise, and capabilities to advance its solid minerals, stimulate economic growth, diversify its revenue streams, and create job opportunities for its citizens. Furthermore, the team highlighted the significance of the state’s role in the solid mineral sector, exemplified by the location of the International Gemstone Market in Adan, Akinyele local government area—a joint endeavor between the Oyo State government and the federal government.

Regarding the collaboration, Mr. Abiodun Oni, the director-general of the Oyo State Mineral Development Agency and executive chairman of Pacesetter Mineral Development Company (PMDC), conveyed the state’s intention to engage Fasken’s Global Mining Group to tap into their extensive sector knowledge and leverage their industry expertise, mining networks, financing resources, and global reach.


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