The Asiwaju of Ijesaland, Asiwaju Yinka Fasuyi, has commended Osun State Governor Senator Ademola Adeleke for securing a groundbreaking mining deal with the Federal Ministry of Solid Minerals and Thors Exploration Limited, the parent company of the Segilola Gold Project operating in Ijesaland.
In a letter titled “ALL HAIL GOV ADELEKE ON OSUN MINING DEAL: HOPE OF A NEW DEAL FOR IJESALAND!” and released on Thursday, Chief Fasuyi described the deal as a “milestone achievement” for Osun State, lauding the governor’s commitment to economic justice and his unprecedented efforts in fighting for the state’s rights in the mining sector.
The new agreement grants Osun State official shareholder status in Thors Exploration Limited, ensuring the state receives tax revenues, environmental compensation, and a review of encroachment claims on 88 cadastral mining units.
As part of the deal, Thors Exploration will pay an assessed N1.2 billion in PAYE tax to the state.
While celebrating the governor’s success, Fasuyi emphasized that for Ijesaland, this victory remains “half-won” until the revenue generated from the mining operations translates into tangible development for the host communities.
He noted that Ijesaland bears the brunt of environmental degradation and health hazards from the mining activities and therefore deserves a fair share of the financial benefits.
“Our communities have suffered monumental neglect over the decades despite our tremendous contributions to the state’s economy,” Fasuyi stated.
“With this new financial breakthrough, we call on His Excellency to ensure that Ijesaland receives a commensurate share of the development derived from the revenue.”
The Asiwaju of Ijesaland further praised Governor Adeleke for the ongoing infrastructural projects in Ijesaland, particularly the construction of the first dualized road in the area.
“We hail you, Governor Adeleke, for your commitment to the massive transformation of Ijesaland. With this new financial opportunity, we hope to witness development like never before”.
However, he urged the governor to prioritize more development projects in Ijesaland, given its central role in Osun’s mining economy.
SEE FULL LETTER
His Excellency,
Senator Ademola Adeleke,
The Executive Governor,
Osun State.
27th March, 2025.
ALL HAIL GOV ADELEKE ON OSUN MINING DEAL: HOPE OF A NEW DEAL FOR IJESALAND!
Your Excellency Sir,
What is excellent is excellent! All Stakeholders in Osun State irrespective of interests should salute your business foresight and acumen, His Excellency, Senator Asiwaju Nurudeen Ademola Adeleke the Executive Governor of Osun State in your pursuit of the economic justice for Osun State in the hands of the Federal Ministry of Solid Minerals and Thors Exploration Limited, the parent body of Segilola Gold Project operating in Ijesaland.
Whilst the successful deal brokered by Your Excellency and Honourable Minister of Solid Minerals, Chief Dele Alake represents an outright victory for the Osun State Government but for us in Ijesaland, it’s a half victory for now.
According to the Press Release issued earlier today by the Spokesperson to Your Excellency on the outcome of this deal, Osun State Government now has as her deliverables the following:
1. The handing over of the share certificate to Osun State
2. Agreement to pay an undisputed portion of the tax assessment of N1.2B Naira (on PAYE alone)
3. Review of Osun claims on Environmental Audit with Osun submitting a comprehensive audit and lastly;
4. A decision for the Federal Ministry of Solid Minerals to review claims on encroachment on Osun 88 cadastral mining units by Segilola and the associated inconclusive partnership.
Concluding part of the Press Release also joyfully and victoriously states thus
Osun is now an official shareholder in Thors Exploration Limited and Thors Exploration is to enjoy a positive operational environment
The credit for the attainment of the above status goes to you, His Excellency Gov Ademola Adeleke because we do not have records of previous administrations fighting for the right of Osun State in the Thors Exploration Limited like we now have. I wish to personally and heartily congratulate your Excellency, Governor Ademola Adeleke for this milestone achievement for the State.
FAIR DEAL FOR IJESALAND
A major anchor on which His Excellency premised his case for economic justice before the Federal Ministry of Solid Minerals and Thors Exploration Limited is FAIRNESS. The Almighty God has granted the prayers of His Excellency for economic justice where the State now enjoys the following:
1. Shareholder in the only largest mining company in Nigeria with its full operation, exploration, and exploitation on the land of Ijesaland. And coming with this is the attendant profit dividends running into Billions of Naira accruing to the State Government annually.
2. Earning a sustainable tax revenue from the workforce and associated operational activities running into Billions of Naira annually from the Thors Exploration Limited operating from ONLY Ijesaland in Osun State and the entire Federal Republic of Nigeria.
3. Earning of huge financial windfalls from ongoing reviews of claims on environmental audit.
4. Huge financial claims from encroachment on Osun 88 cadastral mining units, courtesy of Odo-Ijesa, Mogbara, and Iperindo ALL in Ijesaland ALONE.
Your Excellency, I would like to thank you on behalf of my good people in Ijesaland for the marvelous development projects being executed by your administration in the different parts of Ijesaland and most especially the construction of the first dualised road in Ijesaland for which Ijesaland shall remain eternally grateful.
You were doing your best for us in Ijesaland even when this new enormous and humongous window of revenue was lacking.
Our prayer now is that with this new opportunity of financial income to the State, ALL the communities in Ijesaland should have a fair and commensurate share of development from the revenue to be generated from these multiple windows of financial resources to the State. Our justification for this fair request is premised on the fact that Ijesaland shall bear SOLELY ALL the environmental devastation and health hazards that are daily associated with the mining practices in these our communities.
Ijesaland shall continually monitor what accrues to the State from this new deal and how the same deal reflects in our day to day development in Ijesaland.
The Almighty God has answered Your Excellency’s prayers before the Federal Ministry of Solid Minerals and Thors Exploration Limited.It is now time for His Excellency to answer our prayer for more rapid development in Ijesaland commensurate with what is being derived from Ijesaland.
Ijesaland shall celebrate you like no one before if you commit 100% of ALL that you earn from this new revenue window to Ijesaland alone because our communities have suffered monumental neglect over the decades with almost nothing to show for our incredible and tremendous investment in human capital.
We Hail You Our Excellency, Senator Asiwaju Nurudeen Ademola Jackson Adeleke for continuation of your rapid and massive transformation of Ijesaland and which we hope and pray you would catapult to an height never witnessed before in Ijesaland with the opening of this new financial opportunity.
Please kindly accept the assurances of my highest regards always, Our Excellency.
Asiwaju Yinka Fasuyi,
The Asiwaju Of Ijesaland,
Oke Baba Okuta Villa, Ilesa.
27th March, 2025.
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