Adeleke Hails $150m Romulus Mining Investment as Osun Targets 200% Growth in Three Years

Osun State Governor, Senator Ademola Adeleke, has commended Romulus Mining for deepening its footprint in the state, welcoming the company’s plan to scale up its investment from $50 million to $150 million over the next three years, a 200 per cent increase.

Romulus Mining is an African-focused mining and exploration company operating in Nigeria, with a portfolio of critical minerals, precious metals, and industrial resources.

Governor Adeleke, who spoke in Cape Town, South Africa, at a high-level dinner hosted by Romulus Mining on the sidelines of the Mining Indaba, urged both local and foreign investors to tap into Osun State’s vast solid minerals potential. He assured stakeholders of policy stability, improved security, and a significantly enhanced ease of doing business environment.

At the forum, the governor outlined Osun State’s strategic roadmap to position mining as a key driver of economic diversification, job creation, and sustainable internally generated revenue.

Governor Adeleke disclosed that his administration has implemented far-reaching regulatory reforms aimed at attracting credible, long-term investors. He noted that state-level permitting and approval processes have been streamlined, reducing timelines by more than 50 per cent.

He added that comprehensive geological resource mapping has been completed, providing investors with reliable, bankable data to guide informed investment decisions.

Highlighting the state’s resource base, Adeleke said Osun is richly endowed with commercially viable deposits of gold, lead, zinc, quartz, and feldspar. He revealed that 19 active mining licenses are currently being operated under the state’s investment framework.

The governor further stated that his administration has strengthened security architecture across mining corridors while expanding public-private partnerships to encourage local processing and value addition.

Adeleke also disclosed that the state government is formalising artisanal and small-scale mining through targeted training programmes, improved access to finance, and the deployment of modern mining technology to boost productivity, safety, and regulatory compliance.

“Osun State is open for mining business. The government is not just a regulator; we are a committed partner focused on delivering predictable policies, secure operations, and sustainable returns for investors,” the Governor said.

The event was attended by the Honourable Minister of Solid Minerals Development, the Honourable Minister of Information, and His Royal Majesty, the Ooni of Ife, Oba Adeyeye Enitan Ogunwusi, Ojaja II, underscoring collaboration between federal, state, and traditional institutions in advancing Nigeria’s mining sector.