Non-oil sector solution to challenges in hydro-carbon industry, says Fayemi

Minister of Mines and Steel Development, Dr. Kayode Fayemi, on Thursday said the non-oil sector was Nigeria’s way out of the challenges in the hydro-carbon industry.
Fayemi made the statement during the inauguration of OFL Marble and Granite Limited at Afo in Ose Local Government Area of Ondo State.
He said the importance of solid mineral in the country could not be over-emphasised.
“Every year in Nigeria, we consume about four million bit square metres of granite and marble which is utilized by construction factories and various consumers.
“Only about half a million granite and marble is produced locally, so we import 3.5 million metres of dimension stones like this from China, Italy, Spain, etc.
“What is produced locally here, if it’s not better than what is gotten from China and others, it will compete favorably with them,” he said.
The minister said that the people of the community would be employed; transport business would improve, while the state could utilise what was produced when the company was in full production.
Earlier, Governor Oluwarotimi Akeredolu of Ondo State, said the project was a great one which would benefit the people of the state and Nigeria in general.
He explained that Ondo State was blessed with so many mineral resources while many of the resources were at different stages of exploration and extraction.
“We are making serious efforts to be sure we will explore bitumen in the next 12 months for the benefit of Ondo State and Nigeria in general,” he said.
Akeredolu further said Nigeria had a very stable political atmosphere and his administration was committed to create an enabling business environment.
“We are prepared to collaborate with the private sector to boost the economic development of the state,” he said.
Also, Mr. Makoji Adilzu, Managing Director, OFL Marble and Granite Ltd, said the company had spent seven months in the community.
He said the company had the capacity to produce 1.5 million square metres of granite annually, which made it the biggest in Africa.
He further thanked the State Government for creating an enabling environment for them.
The company is in a public-private partnership with the Ondo State Government to explore and extract marble and granite in the state.