The Osun State Government has announced that Thor Exploration Limited, the parent company of Segilola Resources Operating Limited (SROL), has agreed to settle ₦1.2 billion in Pay As You Earn (PAYE) tax following a mediation process involving the Federal Government.
The agreement was confirmed in a statement by Governor Ademola Adeleke’s spokesperson, Mallam Olawale Rasheed. This comes after a prolonged dispute over tax and operational concerns between the state and the gold mining company.
The mediation, facilitated by the Minister of Solid Minerals Development, Dr. Dele Alake, addressed key concerns raised by the state, including shareholding rights, tax payments, environmental impact, and mining field disputes. Among the resolutions, Osun State secured an official share certificate in Segilola Mining, while Thor Exploration committed to paying the undisputed tax portion and reviewing environmental claims.
This marks a turning point in Osun’s mining sector, ensuring smoother operations for Thor Exploration while reinforcing the state’s economic interests. Governor Adeleke’s administration emphasised that the agreement would bring more revenue for development and maintain industrial harmony.
