The Osun State Government has entered into a new partnership with the Critical Minerals Financing Corporation Plc (CMFC) to develop and enhance the value of the state’s mineral resources.

The partnership was formalised through the signing of a Non-Disclosure Agreement (NDA) by the Office of Natural and Mineral Resources (Mining), in what the government described as a strategic move to strengthen the state’s mining sector.

The agreement was signed at the Bola Ige House, Governor’s Office, Osogbo, on Tuesday. The Special Adviser to Governor Ademola Adeleke on Mineral Resources, Prof. Lukman Jimoda, represented the state government, while the Managing Director of CMFC, Anthony Adigwe, led the corporation’s delegation.

Speaking at the ceremony, Jimoda described the partnership as timely and strategic, noting that it aligns with the Adeleke administration’s vision of making the mining sector more viable, productive and attractive to credible investors.

He expressed satisfaction with what he described as a mutually beneficial framework and said the agreement marked an important step towards unlocking the economic potential of Osun’s mineral resources.

“We are here today to sign a Non-Disclosure Agreement with CMFC. Since I assumed this position, we have been working tirelessly every day to secure reliable investors, and I am elated to announce that we have finally found a good one,” Jimoda said.

The Special Adviser commended Governor Adeleke for what he described as his sustained commitment to developing the state’s mining industry since assuming office.

Jimoda, however, expressed concern over the poor implementation of some mining agreements entered into by previous administrations. He said that of the eight agreements previously signed, only about three or four remained active, while the others had become dormant.

He disclosed that, in addition to the CMFC partnership, the state government had secured two other investors, with agreements expected to be concluded in the near future.

The government also assured CMFC of adequate security and safety for mining operations in Osun State and across the Southwest region.

The signing ceremony was attended by senior officials of the state’s mining sector, including the Executive Secretary of the agency, Alhaji Nurudeen A. Bello, and the Director of Operations, Mrs. M.O. Olayiwola, among other officials.

The new partnership is expected to contribute to efforts to attract investment, improve the development of Osun’s mineral assets and strengthen the sector’s contribution to the state’s economy.