Professor Samuel Bamidele Olobaniyi of the Department of Geosciences, Faculty of Science, University of Lagos (UNILAG) has stressed the need for the enactment of long-term stabilisation protection laws, that would give greater confidence to investors.
“Apart from allaying the fears of investors about the possibility of future policy inconsistencies that can adversely affect their investment in Nigeria, government needs to seek investors in all sectors of the mining value chain so that minerals that are mined can be processed locally”.
He made the call on Wednesday, September 20, 2023, while delivering the first (1st) Inaugural Lecture in the 2023/2024 Academic Session of the University titled “Georesources and the Developmental Agenda of Nigeria in the Era of Globalisation.
The Deputy Vice-Chancellor (Development Services), Professor Ayodele Victoria Atsenuwa who represented the Vice-Chancellor, Professor Folasade Ogunsola, OON, FAS presided over the lecture which was held the J.F. Ade. Ajayi Auditorium, UNILAG, Akoka.
The Inaugural Lecturer in the presence of friends and family including his aged mother, Mama Comfort Olobaniyi took his audience on a beautiful journey into the world of Geosciences; stressing that every new age of civilisation was heralded by the discovery and use of geological resource(s). He averred that human progress and advancement are directly related to developments made in identifying and utilising new mineral types.
While pointing out that geologists have continued to discover and name new minerals, Professor Olobaniyi explained that major mining companies manoeuvre for the control of enormous oilfields and mineral deposits, and stoke conflicts with the help of powerful governments to gain access to these resources.
According to him, despite the enormous gains in geosciences, the dark side is that there is a continuous struggle for control of mineral resources, which is often at the root of most wars and conflicts.
The astute academic through his Inaugural Lecture also provided far-reaching recommendations on Nigeria’s Georesources. These recommendations include the need for Nigeria’s mined ores to be processed locally, rather than exportation of raw unprocessed ores. He opined that this would generate employment in the short term, and build the nation’s economy and technology in the long term.
Born on November 23, 1961, at Ekinrin-Adde in Ijumu Local Government Area of Kogi State, Professor Olobaniyi holds a first degree in Geology and Mineral Science as well as Masters Degree and Ph.D in Applied Geology specializing in Mineral Exploration.
The renowned Exploration Geologist joined the services of the Department of Geosciences, University of Lagos as a full professor in 2013. Over the last decade, he has served as Head of Department between 2013 and 2016; Chairman of the Faculty of Science Accreditation Committee as well as member of the UNILAG Ceremonies Committee and Ombudsman Committee.