The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has urged the Ondo State Government to partner with the Federal Ministry of Mines and Solid Minerals to harness the state’s abundant mineral resources for economic advancement.
The commission emphasised Ondo State’s significant contribution to Nigeria’s natural resource wealth, citing its deposits of oil, gas, bitumen, quartz sand, clay, talc, granite, limestone, kaolin, coal, columbite, tin, feldspar, gemstones, gypsum, and more.
Delivering a keynote address at the Ondo State Political and Development Summit in Igbokoda, the headquarters of Ilaje Local Government Area, NUPRC Chief Executive Officer Gbenga Komolafe highlighted the state’s potential. His address, titled “A Unified Vision for Ondo State: Political and Economic Renaissance for Sustainable Development,” outlined strategies for leveraging the state’s resources.
“To unlock the full resource potential in Ondo State, it is crucial to advance policies that support partnerships and attract investments, mirroring the successful strategies of leading bitumen producers like the United States, China, Russia, Canada, India, and Malaysia, where resource monetisation has led to broad benefits for their populations,” Komolafe said.
He continued, “In this regard, a close partnership between the Ondo State Government and the Federal Ministry of Mines and Solid Minerals is recommended to pursue the requisite international collaborations, accelerate development, and position Ondo State as a key player on the world stage.”
The energy expert also underscored Ondo’s strategic positioning to become an economic powerhouse in the “unfolding global energy dynamics,” citing its population of over five million people and rich natural resources.
Calling for actionable outcomes, Komolafe urged stakeholders to use the summit as a platform for fostering collaboration and progress in the state’s energy sector.
“It behoves the government, prospective investors, and all energy and mining industry stakeholders in Ondo State and Nigeria to accept the deliberations, suggestions, and recommendations made throughout the course of this summit as a call for action and a charge for enhanced collaboration.
“This collaboration is needed to unlock the vast opportunities for leveraging our energy resources and market potential to position Ondo State and our dear country, Nigeria, as a regional energy hub,” Komolafe concluded.
