Osun State Governor, Ademola Adeleke, has set up two committee on Internally Generated Revenue and Solid mineral.
The governor said the step is necessary because the IGR and solid mineral resources are the heart and soul of economy of the state.
Adeleke said Osun, according to extant laws, is entitled to 13 percent derivation from every ounce of gold extracted from gold mining sites in the state and other solid mineral fields.
He said there was no record of any payment made by Segilola and other mining companies in Osun.
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The governor gave the committees two weeks to submit interim report on their findings.
According to him, “Segilola and other operating companies are expected by law to pay Osun state 13 percent derivation on the value of gold and other solid minerals produced in the last 25 years.
“Till date, we have no record of any payment made by Segilola and other mining companies to Osun state. My administration is determined to recover every penny owed Osun state by companies operating in Osun gold fields.
“My administration is conducting an audit of Osun assets in the mining sector. All state mining licences already diverted to private possession must be fully recovered.
“All illegal mining activities must stop immediately. Henceforth, all illegal mining syndicates will be arrested and prosecuted. For the sake of emphasis, denying Osun State of its Legitimate Revenue through refusal to pay derivation, and polluting our environment with impunity will not continue under my watch. I was elected to protect and serve the economic interest of Osun state and that is one of my priorities.”
