The Federal Government of Nigeria has inaugurated a gemstone market in Ibadan, the Oyo State capital.
The market, which is the first of its kind in Nigeria, is expected to boost the country’s gemstone mining industry and create new opportunities for local artisans and traders.
The inauguration ceremony was attended by government officials, representatives of mining associations, and traditional rulers of local communities in the state.
Analysing the importance of the gemstone market, the Minister of Mines and Steel Development, Mr. Olamilekan Adegbite said it would serve as a platform for buyers and sellers to meet, negotiate prices, and exchange information about gemstone quality, origin, and processing.
According to him, the market would also provide training and capacity-building programs for local artisans and traders, with the aim of improving the quality of their products and enhancing their competitiveness in the global market.
Stakeholders in the industry welcomed the development and promises to join hands with the government ensure the sustainability of the sector to achieve global prominence.
