The Nigerian Upstream Petroleum Regulatory Commission has called on the Ondo State Government to form a partnership with the Federal Ministry of Mines and Solid Minerals to harness the mineral resources in the state for economic development.
The commission noted that the state’s contribution significantly to Nigeria’s wealth of natural resources, with an array of minerals such as oil and gas, bitumen, quartz sand, clay, talc, granite, limestone, kaolin, coal, columbite, tin, feldspar, gemstones, gypsum, and others, was not in doubt.
The Commission’s Chief Executive Officer, Gbenga Komolafe, stated this in his keynote address delivered at the Ondo State Political and Development Summit, held in Igbokoda, the headquarters of Ilaje Local Government Area of the state on Wednesday.
Komolafe’s address was titled, “A unified vision for Ondo State: Political and economic renaissance for sustainable development.”
He said, “To unlock the full resource potential in Ondo State, it is crucial to advance policies that support partnerships and attract investments, mirroring the successful strategies of leading bitumen producers like the United States, China, Russia, Canada, India, and Malaysia, where resource monetization has led to broad benefits for their populations.
“In this regard, a close partnership between the Ondo State Government and the Federal Ministry of Mines and Solid Minerals is recommended to pursue the requisite international collaborations, accelerate development and position Ondo State as a key player on the world stage.”
The energy expert pointed out that the Sunshine State was suitably positioned to become an economic powerhouse in the “unfolding global energy dynamics given its population of over five million people and abundant natural wealth.”
He called on the stakeholders to make recommendations at the summit to collaborate for actions in developing the energy sector of the state.
“It behoves the government, prospective investors and all energy and mining industry stakeholders in Ondo State and Nigeria to accept the deliberations, suggestions and recommendations made throughout the course of this summit as a call for action and a charge for enhanced collaboration.
“This collaboration is needed to unlock the vast opportunities for leveraging our energy resources and market potential to position Ondo State and our dear country, Nigeria, as a regional energy hub,” Komolafe charged.