Job creation and other advantages as FG opens first gemstone market in Nigeria
- Nigeria's federal government has commissioned its first international gemstone market
- The minister said the policy that will drive job creation and development of gemstone mining operations in Nigeria
- He urged Nigerians to take advantage of the opportunities available in the mining sector
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The Federal Government has established an Ultramodern International Gemstone Market Centre and the Artisanal and Small Scale Mining ASM CLUSTER Project in Ibadan, the Oyo State capital.
Architect Olamilekan Adegbite, the Minister of Mines and Steel Development who spoke at the commissioning of the market stated that the project demonstrates FG's efforts to explore the potential of the mining sector as an alternative revenue source for the country.
Source: UGC
Adegbite stated that the International Gemstone Market was conceptualized as a policy that will drive job creation and development of gemstone mining operations in Nigeria through the Economic Growth and Sustainability Plan of the Federal Government.
He said the government was committed to reviving the mining sector and developing the vast mineral resources in the country.
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According to the Minister, Nigeria is blessed with so many mineral resources, including gemstones, that have the potential to generate revenue and create job opportunities. He urged Nigerians to take advantage of the opportunities available in the mining sector and contribute to the growth of the economy.
Minister highlights advantages of gemstone market to Nigeria
The minister said that the opening of the Gemstone Market is a significant milestone for Nigeria, as it will not only boost the mining sector but also promote the export of locally mined gemstones, thereby increasing the country's foreign exchange earnings.
He said that the market will also provide a platform for miners to showcase their products and attract foreign investors interested in the mining sector.
According to Adegbite, other advantages of the gemstone market include an increase in trade performance and the generation of higher corporate profits. This will also lead to the emergence of new start-up companies.
Most of all, the gemstone market will further create more jobs through the emergence of more business activities related to the mining cluster.
FG Says Production of Gold Jewelry Commences in 2023
Meanwhile, Legit.ng earlier reported that the federal government disclosed that Nigeria will start production of gold jewelry in 2023.
Olamilekan Adegbite, the Ministry of Mines and Steel Development stated that Kano Gold Souk which would soon come into operation would make the country to become a world destination for gold.
The minister stated that Nigerians go to cities like Dubai to buy gold, a mineral that is exported out of Nigeria for cheap in its raw form.
He added that at the completion of the project, Nigerians will not need to go abroad to buy refined gold but buy here in Nigeria for even cheaper prices.
Source: Legit.ng
