February 24, 2021


Dambela Blog

Nigeria Set To Commence Gold Production With Segilola Project

2 min read

Good fortune seems to be smiling the way of Nigeria as the country is set to commence the production of gold in 2021 after the launch of the Segilola Gold Project in Osun state.

This was stated by the Honourable Minister of Mines and Steel Development Olalekan Adegbite in a statement signed by his special adviser on Media , Ayodeji Adeyemi who stated that the project is going to create about 400 jobs directly and about 1000 jobs indirectly through its value chain.

Once this project kicks off, it will place Nigerian on the centre stage as one of the gold producing countries and would enable the diversification of the economy and create massive job employment and also increase our foreign reserves.

It would be interesting to note that the Federal government had already licensed two gold refineries to refine gold to the London Bullion Market Association,  LBMA, standard.

On the Ajaokuta Steel Plant,  Adegbite stated that the global travel restriction caused by the Covid-19 pandemic had prevented technical experts from Russia to conduct an audit on the steel plant and as soon as travel restriction is relaxed, hope of reviving the plant.

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