SoftP:
Even with all these treasures, Ibadan is still a state turned upside down in Nigeria Map,
the only thing they can boast of is Landmarks, every other thing is write off’
Majority of the indigenes self are something else’
No disrespect though

deboysben:
are u ok...
Or do u have familiar spirit.
Where did u see north their there?

ikorodureporta:


Source:
https://dailytrust.com/inside-ibadan-precious-stones-market

Veryfoolishboy:
but their northern counterpart isn't taxed and they also sell their resources to the government.
But the Niger deltans can't sell crude oil to the government

uuzba:

We never know what we have.
We go sell our Papa village, use the money, run to Canada to go and wash toilet for Oyibo.

Oyibo will buy our fathers village and mine all the resources, and be richer.
-
Processing. Processing. That's their power. Processing.
They process Cocoa into Chocolate. And we wan kill ourselves to buy ONE Mars Bar, or Bounty chocolate at almost N400.

persius555:
I worked for two years in the mining industry. Everything outlined here is 100% true. The industry is dominated by foreigners, mostly ECOWAS members like Malians, Guineans, Burkinabes and Nigerians.
Their activities are aided by corrupt government officials from Abuja down to the states.

Any Nigerian could get into the gemstone business with as little as 500,000 naira but you might be muscled out by these foreign dealers who have the millions and are well coordinated.
By the way, you need to be spiritually fortified because a lot of interests abound.

To start the business, you need to be familiar with gemstone and it's purity and quality level. As a dealer, you might buy a stone from the artisanal miners site at 20,000 naira only to find out the purity level is very low and cracks might abound. You end up selling the gemstone at a loss.

If you have as much as 10million naira, you could get in as a mega dealer. You buy gemstones from dealers at comparative advantage, sell to buyers in the international market at higher margin.
In this case, you will need all the connect to get a licence to move your gemstones out of the country and of course the connect to sell in Thailand, Germany,Tel Aviv or any international market.

You must also be conversant with emerging mining sites so you could get good deals ahead of other dealers.
Back in the later 2000s, falansa in oyo state became a hotspot for gemstones mining, dealers bought aquamarine stones worth 100,000 for as little as 20,000 because the market became saturated, six months later , the same gemstone went for as high as 200,000.

The sector is dominated by stak illetrates and yearning for an upgrade. A couple of geologist and mining engi sees who have the patience and tenacity have profited from the sector.

Government needs to invest in this sector.

grandstar:
Leave these people alone.

The people that will suffer most if they are sent home will be the diggers as prices will plummet as demand decreases.

SoftP:
Even with all these treasures, Ibadan is still a state turned upside down in Nigeria Map,
the only thing they can boast of is Landmarks, every other thing is write off’
Majority of the indigenes self are something else’
No disrespect though

NOwazobia:
If you had read that news to the very end, you wouldn't like it either. What is it to like in stealing, slavery, corruption and gross misconduct?

Kay25:
seriously I never knew a place like dis exist in ibadan good one

persius555:


It use to be a foreign exchange market in the 90s. The gold traders from the north dominated the area before the foreign gem dealers moved in later.

The bulk of the gem deposits is in the middle belt but ojoo gem market seems more attractive due to its proximity to the Lagos International Airport.

Most buyers who come from Karachi, Lahore, Sri Lanka are international business men who can't take the pain of travelling down to the middle belt for their purchase.
They find Ojoo, Ibadan much more attractive.

Kay25:

wao do they get the stones from ibadan ?

Ofemmanu1:

There is stealing, slavery, corruption and gross misconduct everywhere.
I made that remark cos Igbos sees ibadan as a bad place, with large deposit is these gems, Ibadan is better than the potorpotor gully shitthole.
If billions could come out of Ibadan via precious stones then it will get better when Oodua Nation is actuallsed.

Agbegbaorogboye:

The way you confuse English eehn?!!
Seun should install a translator so you can be more comfortable since you're hooked on this forum.

afrikanns:



When I was reading through this,I taught it was coming from somebody that is even coming from a better state, Edo (Benin) for that matter, a state full of dilapidated structure with ugly beast and porn stars full everywhere.

The only state where women are known to be cheaper than sachet water, state full of prostitute.

Guys,reason with your brain next you are to talk not with your stinking rotten anus.

Tunde835:
Idiot

OsuIgboIpob:

Stupîdity...
For your mind...

Agbegbaorogboye:

The way you confuse English eehn?!!
Seun should install a translator so you can be more comfortable since you're hooked on this forum.

Franktom247:
See better alternate source of income but as usual government will turn a blind eye

persius555:


Oke Ogun accounts for highest number in gemstone from oyo state. Time to time, there are discoveries in as far as Kwara state, Saki in oyo too.
Quite a lot of LGAs in the south west have them in abundance but the ecological damages that come with the artisanal mining can be devastating.

Farmlands could be rendered useless for decades. Whenever there are new discoveries, miners move from as far as the north to these new sites.
The fallout is constant clash with the locals whose land are being laid to waste.

If government could properly regulate the activities of miners and make it profitable to everyone, investors will invest heavily.

splmosixx:
This Op na bed belle..

Leave this people make Dem do there trade in peace.

persius555:


Oke Ogun accounts for highest number in gemstone from oyo state. Time to time, there are discoveries in as far as Kwara state, Saki in oyo too.
Quite a lot of LGAs in the south west have them in abundance but the ecological damages that come with the artisanal mining can be devastating.

Farmlands could be rendered useless for decades. Whenever there are new discoveries, miners move from as far as the north to these new sites.
The fallout is constant clash with the locals whose land are being laid to waste.

If government could properly regulate the activities of miners and make it profitable to everyone, investors will invest heavily.