By Shakirudeen Bankole/ Ibadan
As the Nigeria Gemstones and Jewelries Expo and Conference climaxed at the International Conference Center of the University of Ibadan in Oyo State, stakeholders have called for policy support to improve access to funding, proper integration of artisanal miners and simplification of licensing procedures.
They said these demands are crucial to creating more job opportunities, resolving recurring conflicts between licensed operators and host communities, and maximising the opportunities in the sector.
The three-day event was organised by the Gemstones Miners and Marketers Association (GMMA) with the theme Financing Sustainability Practices in Gemstone Mining and Processing, Jewelry Production and Marketing.
The event hosts, Engr. Adeniran Ajibade, the National President of GMMA and Dr. Tinuke Temitope, the National Secretary of GMMA, said the conference was organised to bring all stakeholders together to address development issues in the sector, particularly on access to financing, and to reinforce collaborative initiatives among critical stakeholders.
“At this conference, we are essentially talking about sustainable financing for gemstone businesses and the entire value chains of mining, processing and trading. GMMA, which is an industry association, is made up of operators active along the entire value chain. Most importantly, our goal is to strategically develop the Nigerian gemstone industry so we can derive maximum value from our huge gemstone resources. And one of the lectures just addressed how we can even have access to international financing for a high-risk business such as this,” Ajibade said.
Temitope, speaking with The Miners, described the event as successful due to generous support from the Central Bank of Nigeria, the Bank of Industry (BoI), Segilola Resources Operating Limited, Providus Bank Plc, Nigeria Bottling Company (NBC), and the Osun State Government.
The event brought together participants from across critical sectors, including the Economic and Financial Crimes Commission (EFCC), Nigeria Customs Service, investors, university students and the Ministry of Solid Mineral Development.
In attendance were the Minister of Solid Mineral Development, Dr. Dele Alake, represented by Assistant Director Mr. Umuoakpa Etido; Chief Dele Ayanleke, the National President of the Miners Association of Nigeria (MAN); and Princess Abiodun Anifalaje, the Vice President of GMMA, among others.
Keynote speakers included Mr. Akinrogunde Akintunde, Director of Artisanal and Small-Scale Mining at the Ministry of Solid Mineral Development; Dr. Abiodun Ariyo, Group Head, Large Corporate and Structured Finance at Providus Bank Plc; Rev. Zeph Ndaja, CEO of Zaray Gems and Minerals Ltd; Mrs. Oluseyi Abdullahi, CEO of Crafties Hobby Craft Ltd; Nihma Ibironke Oduniyi, a goldsmith and advocate; Sir (Engr) Yomi Aluko (KJW); and Mrs. Toyin Ehindero of the EFCC.
Technical trainers included Mrs. Ibitoye Titlayo, jeweler and master trainer from the Gemological Institute of Nigeria; Opkara Christian, CEO of ChrisGems and Minerals Nigeria; and Rev. Ndaja of Zaray Gems and Minerals Nigeria Limited.
Topics covered in technical sessions included Unlocking Potentials of the Jewelry Industry: Driving Local Value Addition, Innovation and Global Competitiveness by Oduniyi; Gemstone Faceting and Cutting: Harnessing its Economic Significance for Nigerian Youths by Ndaja; and Control Blasting Techniques for Safe and Efficient Mining of Gemstones by Sir (Engr) Yomi Aluko.
Another session, Government Policy and Support for Investment in the Mining and Gemstones Industry, was delivered by Mr. Victor Ekpeyong of the Federal Ministry of Solid Mineral Development.
Panelists included Professor O.C. Aidegbe of the University of Ibadan, Mr. Segun Lawson, CEO of Segilola Resources Operating Limited, Professor Muhideen Saliu of the Federal University of Technology Akure, and Mr. Tope Adebanjo, CEO of Laurel Gems and Jewelries.
Other facilitators were Mr. Apata Francis Sunday, Chief Superintendent of the Nigeria Immigration Service; Professor Ishiak Yau Tanko of Nasarawa State University; F.C. Okeke, Assistant Comptroller of Customs; and Dr. Aminu Ishaku, Head of Department of Geology and Gemology at Yakubu Gowon University.
The conference explored a wide range of issues in the Nigerian mining sector, exposing its challenges and identifying strategies for sustainable growth. Some of the central topics were From Mine to Market: Sustainable Financing for Ventures along the Entire Value Chain; Compliance with Anti-Money Laundering Regulations by Operators in the Gemstone Industry; Enhancing Security Across the Mining and Gemstone Value Chain: Strategies, Challenges and Innovation; and Integrating Gemology and Jewelry Design in Nigerian Universities: Using Yakubu Gowon University as Case Study.
Speaking on the theme of the conference,.the Minister described sustainable financing as the bridge between potential and prosperity.
Alake explained that it involves investing in technologies that curb environmental degradation, providing artisanal miners with access to credit and training, and building transparent value chains that empower local communities.
According to him, sustainability in the sector will ensure that Nigeria’s jewelry industry is not only beautiful but also ethical.
He promised that his ministry is “working to streamline licensing processes, strengthen regulatory frameworks and foster partnerships that bring together government, private investors and international development agencies.
“Let us collaborate across sectors. Let us build institutions that support research, training and certification. Let us ensure that our policies reflect the realities of those who work closest to the earth,” he added
In his keynote address, Dr. Abiodun Ariyo of Providus Bank announced the availability of funds for operators and investors, but emphasised that access requires strict conditions tied to business structure, record keeping, financial transparency and long-term planning.
He explained that Nigerian banks are financially capable of supporting the sector, with funding available at inter-bank, central bank, and international levels through licensed portfolios at single-digit interest.
He added that banks now prefer to play an active role in businesses they fund to protect their investments.
“This time around, you have got to loosen up and practice some principle of flexibility. The banks that are willing to give these funds are also interested in being part of the business. This is the only way to mitigate the enormous risks involved,” he said.
Mrs. Toyin Ehindero of the EFCC also warned about the exploitation of the gemstone industry for money laundering and stressed the need for compliance with transparency regulations.
“The concept of SCUML is to sanitise the system, establish accountability in the movement of financial resources, and protect businesses from crises. By complying, operators can also access existing databases of suspicious investors facing financial crime allegations or blacklisting,” she told participants.
Chief Dele Ayanleke of the Miners Association of Nigeria raised concerns that reforms in the mining sector could inadvertently exclude local communities if not handled carefully. He called for the integration of community landowners, decriminalisation of artisanal miners, and the creation of special affordable licensing windows for peasants in the industry.
“I also want to seize this golden opportunity to appeal to our industry leaders to join hands with us at the Miners Association of Nigeria in appealing to our regulatory body and its agencies to reconsider a review of the present licensing fees regime which is tending towards a systematic exclusion of those that can be regarded as peasants in the industry.
“It is important for those of us in the gemstones subsector to proffer relevance and local value addition across board. I hope the outcome of this conference will make the gemstones and jewelries industry attractive to big investors that can partner with us. This call becomes more imperative if you consider the fact that some of those regarded as peasants in the industry are struggling to offset the rising costs of mining business opportunities,” he said.
While calling for industry collaboration, Ayanleke added that, “It is important for those of us in the gemstones subsector to also proffer alternative funding windows to sustain operations at the upstream and downstream levels and fast track development in line with our goals for global relevance and local value addition.”
