FG brokers peace as Osun secures shareholding in Segilola
By Ismail Azeez
The prolonged dispute between the Osun State Government and Thors Explorations Limited was amicably resolved on Tuesday in the presence of Osun State Governor, Senator Ademola Adeleke, Minister of Solid Minerals, Dele Alake, and the management of Thors Explorations Limited.
Following a conflict resolution meeting convened by the Minister of Solid Mineral Development, both parties agreed to collaborate in addressing four key areas of contention raised by the Osun State Government against Thors Explorations Limited.
The disagreement stemmed from a N3.2bn debt related to taxes, shares, and environmental concerns. Earlier in 2024, the Osun State Government had initiated steps to shut down the company but was persuaded by the Federal Government, through the Ministry of Solid Minerals Development, to resolve the matter through dialogue.
A statement issued by Olawale Rasheed, spokesperson to the state governor, outlined the major issues raised by the state government, which included securing Osun’s stake in Segilola Mining Company, ensuring the firm met its tax obligations, addressing environmental degradation, and resolving conflicts over mining fields.
Governor Adeleke, in his address to the minister and company representatives, expressed appreciation for the Federal Government’s intervention. He acknowledged the Ministry’s swift action in fostering resolution and commended President Bola Tinubu for ongoing reforms in the nation’s mining sector.
“As a responsible regulator of the solid mineral sector, I commend your proactive approach, which has led us to this positive outcome,” the governor stated. “Our state government did not take this decision lightly. We are, however, pleased that this intervention has yielded constructive results.”
Governor Adeleke reaffirmed his commitment to maintaining a harmonious relationship with investors. “As governor, I prioritise a business-friendly environment. Osun welcomes investors across various sectors,” he added.
In response, Minister Alake assured the governor of his commitment to ensuring a peaceful resolution, emphasising that maintaining cordial relations is essential to attracting and sustaining foreign investment in the mining sector.
He elaborated on the Federal Government’s efforts to attract major mining investors and encouraged Osun State and Thors Explorations Limited to work together for the greater benefit of the region.
During a closed-door tripartite meeting, both parties reached agreements on the transfer of Osun’s shareholding to the state government, as well as the exchange of data concerning tax obligations, environmental impact, and disputed mining fields.
A significant outcome of the meeting was the official presentation of Osun’s shareholding certificate to Governor Adeleke.
