In an official statement released by Segilola Resources Operating Limited (SROL) regarding the recently concluded dispute with the Osun State Government, SROL commends the Honourable Minister of Solid Minerals Development, Dr. Henry Dele Alake, and the Inter-Ministerial Fact-Finding Committee for their diligent efforts in assessing the matter.
Following a productive meeting held on 25th March 2025 in Abuja with all relevant stakeholders, the Committee’s report has been formally presented to SROL, reaffirming the company’s adherence to all legal and regulatory obligations.
Excerpts of the official press release from Segilola Resources Operating Limited (SROL) on the Inter-Ministerial Fact-Finding Report, attributed to Austin Menegbo Country Manager of Segilola Resources Operating Limited (SROL);
“Importantly, the report affirms what we have maintained from the outset – SROL has acted in full compliance with its legal and regulatory obligations, and the allegations of wrongdoing were unfounded.”
“It was also confirmed that the shares held by the Osun State Government in Thor Explorations Ltd. (SROL’s parent company) are bonus shares, issued gratis on the recommendation of the project’s initial owners, Tropical Mines Limited (TML). These shares have always been accounted for and remained in TML’s custody with the State’s knowledge. TML will hand over the share certificates to the Minister of Solid Minerals Development for formal transfer to the State Government.”
The company also reiterated its commitment to collaborative Corporate Social Responsibility (CSR) initiatives in Osun State, supporting local communities through various impactful initiatives.
1. Education and Youth Empowerment Programs
Construction and renovation of schools, including provision of scholarships to secondary and tertiary institutions.
· Sponsorship of skill acquisition workshops for youth and women
2. Healthcare Initiatives
- Provision of equipment and medical consumables, training of staff at the primary health centres, renovation of community healthcare centers, implementation of health programs, and disease prevention campaigns.
- In 2024, SROL conducted its second medical outreach, providing consultations, advanced diagnostics, medications, and surgical procedures.
3. Infrastructure Development
- Ongoing road rehabilitation projects.
- Provision of transformer to Imogbara and installation of 150 solar streetlights in Iperindo communities.
4. Sustainable Livelihood Restoration Programs (LRP)
- Provision of materials and equipment for vegetable farm, fish farm and cocoa rehabilitation programme for project affected persons (PAP’s). These are done in addition to already paid compensation.
By embedding sustainability and community development into its operations, SROL continues to foster long-term positive relationships with local communities while promoting economic and social well-being. The company remains committed to working collaboratively with all stakeholders to ensure a sustainable future for the company, Osun State and Nigeria’s mining sector.
