FEDERAL government is to commence the construction of an international gem stones market in Ibadan, Oyo State capital.
To this end, the Oyo State Government has allocated two hectares of land for the project.
The Minister of Mines and Steel Development, Olamilekan Adegbite stated this in Ojoo, Akinyele Local Government during an official handover ceremony of the land by the representatives of the state government on Monday.
The minister noted that the project was part of initiative by the federal government to facilitate its economic recovery plans across the nation due to consequences of COVID-19 pandemic on the country’s economy.
Mr Adegbite, who believed that the project would be completed this year, said the gem stone market would not only boost Oyo State economy but attract foreign investment.
In their remarks, Oyo State Commissioner for Energy and Mineral Resources, Mr Seun Ashamu and the Executive Chairman of Oyo State Solid Mineral Development Agency, Mr Abiodun Oni explained that the project when completed, would complement the diversification plans of Governor Seyi Makinde’s administration.