Segilola Resources Operating Limited Honored as One of Nigeria’s Top 10 Non-Oil Exporters by NEPC

Lagos State, Nigeria – October 17, 2023 – Segilola Resources Operating Limited (SROL), Nigeria’s pioneering gold exploration and production company, has been recognized as one of the Top 10 Non-Oil Exporters in Nigeria by the Nigerian Export Promotion Council (NEPC). The award was presented at an esteemed event celebrating the nation’s top non-oil exporting companies, where the Minister of Industry, Trade and Investment, Hon. (Dr.) Doris Nkiruka Uzoka-Anite MD, CFA, commended the role of these companies in driving Nigeria’s economic growth.

This accolade underscores SROL’s significant contribution to Nigeria’s ongoing efforts to diversify its economy. As the country continues to expand beyond its traditional oil sector, the solid minerals industry stands at the forefront of this diversification strategy. Speaking on the recognition, Mr. Austin Menegbo, Country Manager for SROL, expressed pride in the company’s achievements:

“This recognition is a testament to our unwavering commitment to supporting Nigeria’s economic diversification through robust export initiatives. At SROL, we are proud to contribute to national development, particularly in job creation. Impressively, 44% of our workforce is drawn from Osun State, with 28% from our host communities. This reflects our dedication to fostering sustainable growth and providing opportunities within the regions where we operate.”

Mr. Menegbo further added, “This acknowledgment encourages us to continue our journey towards sustainable development and community enrichment. We are excited about the future and remain committed to making even greater contributions to Nigeria’s export landscape.”

As the operator of Nigeria’s first commercial gold mine, SROL’s flagship project, the Segilola Gold Mine, has set a precedent in the country’s mining sector. Located in Osun State, the mine commenced commercial production in 2022 and achieved an output of 98,006 ounces of gold in its first year. In 2023, the mine produced an additional 84,609 ounces, demonstrating consistent performance. With a life of mine extending 5.5 years, Segilola Gold Mine continues to be a vital asset in Nigeria’s solid minerals sector.

Segilola Resources Operating Limited remains steadfast in its mission to drive economic growth, create local employment, and advance the mining value chain within Nigeria. The recognition from NEPC further affirms SROL’s role as a leader in non-oil export and sustainable development, as the company continues to break new ground in the country’s mining industry.