FG launches first international gemstone market in Ibadan
The Federal Government has launched their first international gemstone market in Ibadan, Oyo State.
They described gemstones as a natural resource that can boost the Oyo State economy.
It was Mr Olamilekan Adegbite who is the Minister of Mines and Steel Development, who revealed this information yesterday and this was during the market commissioning.
He mentioned that choosing Ibadan as the location for this international Gemstone Market is because of the rich deposits of gemstone in this part of Nigeria.
He also said that over the years, an informal gemstone market which has been thriving has been in Ibadan in Oyo State.
He also mentioned that this project is part of the initiative of the Federal Government to facilitate economic recovery in Nigeria.
He says this isn't only beneficial to the Oyo State economy but also foreign investment for the entire South West region.
They are trying to ensure that the market creates lots of jobs in the south west zone.
This is the Creation of over 20,000 jobs along the gemstone mining value chain in this Zone.
He said that the way the market was been operated informally led to job losses and poor regulation of gemstone trading.
He mentioned how the President at the beginning of his administration expressed his desire to encourage diversification of the national economic base.
He said this new development is in line with what the president had said.
The Federal Government has launched their first international gemstone market in Ibadan, Oyo State.
They described gemstones as a natural resource that can boost the Oyo State economy.
It was Mr Olamilekan Adegbite who is the Minister of Mines and Steel Development, who revealed this information yesterday and this was during the market commissioning.
He mentioned that choosing Ibadan as the location for this international Gemstone Market is because of the rich deposits of gemstone in this part of Nigeria.
He also said that over the years, an informal gemstone market which has been thriving has been in Ibadan in Oyo State.
He also mentioned that this project is part of the initiative of the Federal Government to facilitate economic recovery in Nigeria.
He says this isn't only beneficial to the Oyo State economy but also foreign investment for the entire South West region.
They are trying to ensure that the market creates lots of jobs in the south west zone.
This is the Creation of over 20,000 jobs along the gemstone mining value chain in this Zone.
He said that the way the market was been operated informally led to job losses and poor regulation of gemstone trading.
He mentioned how the President at the beginning of his administration expressed his desire to encourage diversification of the national economic base.
He said this new development is in line with what the president had said.