Oyo State Govt. to reposition Igbeti Marble, inaugurates NMMC board

The Oyo State Government will soon reposition the Nigeria Marble Mining Company Limited (NMMC) in Igbeti area of the state to a viable enterprise, so as to explore its huge potential.

Gov. Abiola Ajimobi of Oyo State disclosed this in Ibadan on Tuesday during the inauguration of the board members of the company.

Ajimobi, who said that the Igbeti Marble was one of the enterprises that have huge potential in the country, urged the newly inaugurated board to review the technical management partners of the company.

The governor urged the new board to bring investors, particularly from China and Australia that are ready with financial capability and equipment to transform the company.

‘‘If the new board can get investors, who are ready to invest heavily in the business, we can reduce our share percentage and urge the Federal Government to reduce theirs too by five per cent.

‘‘We believe that the company could be well transformed for great benefit through Public Private Partnership (PPP),’’ he said.

He also called on the newly inaugurated board to reposition the company to a platform for all stakeholders in the country to benefit.

Ajimobi said that the effort of the government toward repositioning the industry was in line with his administration’s development tripod of restoration, transformation and repositioning.

News Agency of Nigeria (NAN) reports that the newly inaugurated board of the company has nine members, drawn from among the stakeholders.

The breakdown of the composition was three from the state government, two from the Federal Government, three from Igbeti Marble Industry and one from Olorunsogo Local Government area.

Representing the state are Mr Abimbola Adekanmbi, the State Commissioner for Finance, Mr Mathew Oyedokun, Special Adviser to the Governor on Solid Minerals and Mr Seun Abimbola, the State Attorney-General and Commissioner for Justice.

On the list is the Chairman, Olorunsogo Local Government, while Mr Ayobami Akanbi and Mr Donatus Umaro, Zonal Mines Officer, South West are representing the Federal Government.

Others are Dr (Mrs) Jadesola Sodipe, Chief Jacob Adetoro and Chief (Mrs) Connie Aremu representing Igbeti Marble Industries on the newly inaugurated board.

Adetoro, the Asiwaju of Igbeti and a board member representing Igbeti Mining Industry (IMI), said that the NMMC board had been in existence since 2001 but was no more functioning as a result of some challenges.

He appreciated the state government for its concern and commitment toward repositioning the company, adding that the new board inaugurated consisted members representing the shareholders.

Adetoro, also a representative of the community, said that the company had for many years been moribund, expressing optimism of greater benefits to all stakeholders with the newly inaugurated board.

NAN reports that NMMC started as Igbeti Mining Industries Limited owned by Chief Oyedele Ashamu but was later taken over by Oyo State Government in 1978.

The equity structure was 30 per cent to Oyo State Government, 25 per cent to IMI, 20 per cent to Federal Government, 10 per cent to Local Government and 15 per cent to Technical Partners.