Osun State Governor, Ademola Adeleke, has expressed appreciation for the Federal Ministry of Mines’ involvement in resolving the state’s tax disputes with Thor Explorations Limited, emphasising that Osun’s claims are grounded in the Constitution and existing laws.
In a statement by his spokesperson, Mallam Rasheed, the governor, who had earlier reached out to the Minister of Mines, Dele Alake, reaffirmed the state’s support for initiatives aimed at boosting Foreign Direct Investment (FDI) into Nigeria.
However, he stressed that investors must adhere to local laws, maintain transparency, and safeguard the environment against degradation.Governor Adeleke revealed that since 2023, the state government has engaged in discussions and negotiations with Thor Explorations, but without fruitful outcomes.
He highlighted that Segilola Resources Operating Limited, a subsidiary of Thor Explorations, has accumulated tax liabilities amounting to N3.25 billion, with a formal Demand Notice issued in April 2024.
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The governor said Osun’s legal authority to collect these tax liabilities and pointed out that Thor Explorations was operating six additional companies at the site without proper disclosure to the state, both in terms of tax obligations and environmental accountability.
These companies include SINIC Engineering Limited, ATF Consulting Limited, Monument Nigeria Limited, Rabaa Cleaning Limited, Deep Rock Drilling Services, and CEFO Security Limited.
Governor Adeleke further disclosed that Thor Explorations Limited had acknowledged Osun State’s holding of 5,192,896 shares in Thor Explorations, United Kingdom, asserting that the state is entitled to its due financial benefits as a shareholder.
Expressing concern over the severe environmental damage caused by Thor’s mining operations, the governor underscored the company’s responsibility to pay for environmental reclamation, particularly given that environmental matters are covered under the concurrent legislative list.
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“Osun state has a robust partnership with the Federal Ministry of Mines. Our state has several mining licenses. So we are critical stakeholders with a deep understanding of the laws and the constitution. Our action is to get what is due to our state as affirmed by extant laws and practices.
“We have a robust ease of doing business environment and we have several investors in various sectors of our state economy. We are only opposed to lack of transparency and accountability in the operation of the mining sector. Local laws must be respected and obeyed as is the practice in Europe and North America and the environment must be reclaimed.
“So we look forward to receiving the Federal fact finding team. We have prepared our position. Thors cannot hide under mining being on exclusive legislative list to avoid local tax, deny shareholders their rights and violate our environment with impunity”, the governor was quoted as saying.
