The Federal Government has inaugurated a gemstone market in Ibadan, the Oyo State capital, OYO NEWS reports.
The market, which is the first of its kind in Nigeria, is expected to boost the country’s gemstone mining industry.
OYO NEWS reports that the gem market will create new opportunities for local artisans and traders.
Minister of Mines and Steel Development, Olamilekan Adegbite, while analysing the importance of the gemstone market at the inauguration ceremony, said it would serve as a platform for buyers and sellers to meet, negotiate prices and exchange information about quality, origin and processing.
According to him, the market will also provide training and capacity-building programmes for local artisans and traders, with the aim of improving quality of their products and enhancing their competitiveness in the global market.
Stakeholders in the industry welcomed the development and promised to join hands with the government to ensure sustainability of the sector to achieve global prominence.