Foreign Mining Firm Boosts Osun Economy With $150 Million Investment

By Ayodele Oni 

Osun State Governor, Ademola Adeleke, has revealed that a foreign mining firm operating in the State, has concluded arrangement to increase its investment to about $150 million over the next three years.

At present, the company’s investment in the state stands at $50 million.

Speaking in Cape Town, South Africa, at a high-level dinner, hosted by Romulus Mining on the sidelines of the Mining Indaba, Governor Ademola Adeleke, called on local and foreign investors to harness the State’s vast solid minerals potential, assuring them of policy stability, enhanced security and a significantly improved ease of doing business environment.

At the forum, Governor Adeleke outlined Osun State’s strategic roadmap to position mining as a key driver of economic diversification, job creation and sustainable internally generated revenue.

Governor Adeleke disclosed that his administration has implemented far-reaching regulatory reforms to attract credible and long-term investors, noting that state-level permitting and approval processes have been streamlined, cutting timelines by over 50 per cent.

He added that comprehensive geological resource mapping has been completed, providing investors with reliable, bankable data to support informed investment decisions.

Commending Romulus Mining for its growing footprint in the State, Adeleke acknowledged the company’s commitment to expand its investment in Osun State from $50 million to $150 million over the next three years.

He described Romulus Mining as a responsible and value-driven operator, citing its use of advanced exploration techniques, innovative financing models and strong host community engagement.

The Governor highlighted that Osun State is richly endowed with commercially viable deposits of gold, lead, zinc, quartz and feldspar, supported by 19 active mining licences operated under the State’s investment framework.

He further noted that the government has strengthened security architecture around mining corridors while expanding public-private partnerships to promote local processing and value addition.

Adeleke also revealed that the state is formalising artisanal and small-scale mining through targeted training programmes, access to finance and the deployment of modern mining technology, aimed at improving productivity, safety and regulatory compliance.

“Osun State is open for mining business. The government is not just a regulator; we are a committed partner focused on delivering predictable policies, secure operations and sustainable returns for investors,” the Governor said.

The event was attended by the Honourable Minister of Solid Minerals Development, Dele Alake, the Honourable Minister of Information, and His Royal Majesty, the Ooni of Ife, Oba Adeyeye Enitan Ogunwusi, Ojaja II, underscoring the strong collaboration between federal, state and traditional institutions in advancing Nigeria’s mining sector.