States free to explore, exploit mineral resources


Fayemi – State governments are now free to explore and exploit the mineral resources in their domains provided such is done legally without interfering with locations already given to other stakeholders, the Federal Government has said.\r\nThe government stated that although it had exclusive rights to mine minerals across the country, the constitution encourages states to either set up their own investment corporations or partner private investors to exploit minerals in their domains. \r\nThe Minister of Mines and Steel Development, Dr. Kayode Fayemi, stated these in Abuja while playing host to the Lagos State Commissioner for Energy and Mineral Resources, Mr Wale Oluwo, who led a team from the state to tender some requests before the Federal Government. Reacting to statements by the commissioner on the enormous minerals in Lagos, Fayemi said the state was free to explore and exploit the resources since such activities would provide jobs for Nigerians and increase the Federal Government\’s revenue through the payment of royalties.

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