The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) called for a strategic partnership between the Ondo State Government and the Federal Ministry of Mines and Solid Minerals to fully leverage the state’s abundant mineral resources for economic growth.
In his keynote address at the Ondo State Political and Development Summit held in Igbokoda, the headquarters of Ilaje Local Government Area on Wednesday, NUPRC CEO Gbenga Komolafe emphasized the state’s significant contribution to Nigeria’s wealth of natural resources.
He listed resources such as oil and gas, bitumen, quartz sand, clay, talc, granite, limestone, coal, and gemstones, among others, as vital assets that remain underutilized.
Komolafe, speaking on the summit’s theme, “A Unified Vision for Ondo State: Political and Economic Renaissance for Sustainable Development,” urged the state government to adopt policies that would encourage partnerships and attract investment.
He pointed to the success of countries like the United States, China, Russia, Canada, India, and Malaysia, where strategic resource monetization has led to widespread benefits.
He said, “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 globally.”
He further recommended that Ondo State collaborate closely with the Federal Ministry of Mines and Solid Minerals to pursue international collaborations, accelerate development, and position the state as a key player in the global energy sector.
Komolafe also highlighted Ondo’s potential to become an economic powerhouse, citing its population of over five million people and its wealth of natural resources.
He urged stakeholders at the summit to make actionable recommendations for the state’s energy sector development.
“It is essential that the government, prospective investors, and all energy and mining industry stakeholders in Ondo and Nigeria take the deliberations and recommendations from this summit as a call to action for enhanced collaboration,” Komolafe said.
“This collaboration is necessary to unlock the vast opportunities in our energy sector and position Ondo State, and Nigeria, as a regional energy hub,” he concluded.
