Segilola Resources Operating Limited, Setting Benchmarks for Operational Excellence and Sustainability in Nigeria’s Mining Industry – Segun Lawson, MD/CEO

Special focus on leading companies with innovative product and services driving the Nigerian economy in times of uncertainty.

The Nigerian economy has been and is going through turbulent times since the Naira redesign policy, through to the removal of Petroleum subsidy, and the harmonisation of the multiple foreign exchange rates. Also the partial removal of power subsidy has brought disruption to the fundamentals of the business environment which in turn leads to headline inflation, both to household items and costs of production of manufactured goods and services.
As a result of these distortions, many companies in the country have suffered losses while lots have closed shop, thereby relocating to other perceived favourable countries. In the midst of this, some creative, innovative companies are showing their resilience, and ingenuity, and soaring high like the eagle against the economic headwinds in various sectors of the economy.
The Guardian has followed trends In the nation’s economic journey and is publishing a unique edition to showcase these iconic companies, their brands, teams, impacts on the economy generally. This is the first in the series…

Nigeria is endowed with about 44 different solid minerals, presenting vast investment opportunities across the value chain, however Illegal mining in the country has led to significant economic losses of approximately $9 billion annually due to unregulated mining activities.
And in a sector that is besieged by artisanal mining activities, unavailability of data, inadequate infrastructure, limited access to financing, and regulatory uncertainties, Segilola Resources Operating Limited (SROL) prides itself in owning and operatingNigeria’s first large-scale commercial gold mine, the Segilola Gold Mine in Osun State, with a vision to be Nigeria’s leading gold mining and exploration business.The company is committed to safe, environmentally responsible and profitable operations, fostering sustainable development inhost communities.

Leveraging on this vision, Mr. Segun Lawson, Managing Director/CEO said “We produce gold of international standards that meet global market demand, minimizing environmental impacts” pointing out that the company is setting benchmarks for operational excellence and sustainability in Nigeria’s mining industry.

“We are proud that our operations have had a transformative impact on the mining industry and contributed significantly to Nigeria’s GDP. Being recognized as one of the top 10 Non-Oil Exporters in the country, with gold featured on this list for the first time, highlights the significance of our contributions. This achievement underscores our role in diversifying Nigeria’s economy”, Lawson, revealed.
Segilola is pioneeringleadershipby setting benchmarks for operational excellence and sustainability in Nigeria’s mining industry.The company’s unwavering commitment to environmentally responsible and sustainable practicesis strictlysustained and her strong social license to operate is built on meaningful relationships with host communities.

The mining giant is deeply committed to the well-being and development of the host communities, while community initiatives are tailored to foster sustainable development, improve quality of life, and empower future generations.
“At the heart of our community strategy are our Community Development Agreements (CDAs), signed with our three host communities. These agreements ensure that all development projects align with the specific needs and aspirations of the communities, guaranteeing inclusivity and collaboration in decision-making. We also undertake Corporate Social Responsibility (CSR) projects and Livelihood Restoration Programs (LRPs). The LRP’s, which are done in addition to already paid compensation, are aimed at providing sources of livelihood for project affected persons”, Lawson explained.

Stressing the importance of education to the company’s CSR efforts, he stated, “We provide merit-basedscholarships for both secondary and tertiary education to eligible members of our host communities, actively promoting educational advancement. Through initiatives like our partnership with The Destiny Trust Foundation, we have supported school enrollment programs that have brought hope and opportunity to numerous children and families.

“Infrastructure development has also been a key focus. We have worked to improve accessibility by grading and repairing the Iperindo-Ilerin Road, while ensuring access to clean water through the provision of boreholes in all three host communities.
In the realm of health and safety, Segilola has consistently prioritized the well-being of community members. During the COVID-19 pandemic, we donated essential palliatives and supported the Africa Centre of Excellence for Genomics of Infectious Diseases (ACEGID). Additionally, we have held health and safety sensitization sessions for motorcyclists, providing them with helmets and reflective jackets to enhance road safety.

Economic empowerment is another critical area of focus. We have implemented business projects as part of our LRPs to assist Project Affected Persons, while empowering youth and women through tailored programs that foster economic independence and self-reliance.
Thecompany has an enviable commitment to building a diverse and inclusive workforce. With 98% Nigerian nationals employed at the Segilola Gold mine, we are proud to contribute to reducing unemployment at both the national and local levels. Furthermore, our internship programs, such as NYSC, SWEP, and SIWES, have not only engaged talented individuals but also retained 78% of interns as full-time employees, nurturing the next generation of industry professionals.
SROL’s CSR initiatives reflect our belief in creating shared value and leaving a lasting positive legacy in the communities we serve. Through these targeted programs, we continue to drive economic growth, social progress, and sustainable development in Nigeria”, Lawson indicated.

Meanwhile, in response to economic headwinds in Nigeria, SROL emphasized its commitment to operational efficiency and innovation byimplementing cost-optimization measures, leveragingadvanced mining technologies to enhance productivity, and strengthening local partnerships to ensure supply chain stability.
Segilola Resources Operating Limitedremains steadfast in pursuing strategic objectives that will enhance its operations and contribute to the growth of Nigeria’s mining sector.

In view of this, resource expansion is a key priority forthecompany. We are intensifying exploration activities within and around our mining license areas to identify additional resources, with the aim of extending the mine life of the Segilola Gold Mine. This effort underscores our commitment to ensuring the long-term sustainability of our flagship project.

In addition to extending the mine life of the Segilola Gold Mine, we are actively focused on discovering other commercial quantities of gold through expanded exploration efforts. By leveraging advanced geological techniques and a commitment to operational excellence, we aim to unlock further value for our stakeholders while strengthening Nigeria’s position as a key player in the global mining sector.
These initiatives are part of our broader vision to continue setting benchmarks in Nigeria’s mining industry, creating opportunities for economic diversification and fostering sustainable growth.

Though, transparency is key for optimizing Nigeria’s solid minerals industry, Segun Lawson commended the strides made by the Minister of Solid Minerals, Dr. Dele Alake, in this regard by establishing robust regulatory frameworks that prioritize compliance and accountability in the sector.

“One significant innovation by the Ministry of Solid Minerals Development is the adoption of digital platforms for licensing, which has minimized bureaucratic delays and enhanced data accuracy. The introduction of the electronic Mining Cadastre System (eMC+) has been a transformative development. Coupled with initiatives like the Nigerian Value Addition Policy, these advancements are positioning the Ministry to foster greater transparency and unlock the full potential of the sector, ensuring it significantly contributes to Nigeria’s GDP”, he emphasized