Gemstone market will help diversify Nigeria's economy - Minister

Nigeria’s Minister of Mines and Steel Development, Olamilekan Adegbite, said Thursday that the creation of a gemstone market will ensure the diversification of the Nigerian economy.

According to the statement, the minister stated this at the commissioning of the Ultramodern International Gemstone Market Ojoo, Akinyele Local Government Area Ibadan, Oyo State, on Thursday. “The landmark projects are to create an enabling environment to support the mining industry through the formalization of the Artisanal and Small Scale Mining Sub-sector as a major driver of the key growth parameters to engender the development of the mining sector since over 90 per cent of the mining activities in the country could safely be said to be ASM driven,” the minister said.

He added that the international gemstone market is also designed to be a One-Stop-Shop for local and international gemstone and gold merchants with facilities to test, certify, document and effect necessary payments for royalties and processing fees required to support direct international travels.

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