Nigerian Senate Sought Establishment of Bitumen Development Commission

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Abuja, Nigeria – Mediaage NG News – The Nigerian Senate on Thursday, sought the inclusion of the country in the $147bn global bitumen market

This resolution was a fallout from a bill seeking the establishment of a Bitumen Development Commission, sponsored by Senator Jimoh Ibrahim. He said Nigeria has 38bn bitumen reserves.

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Ondo State has the highest bitumen deposit in Africa, valued at $42bn, including Ogun, Edo, Lagos and Akwa-Ibom states.

The objectives of the bill, according to Senator Ibrahim, is to develop a legal framework for the regulation of the bitumen development in Nigeria, prevent “unconventional sources” from taking advantage of research-enhanced applications over other competitors, and lead innovation and resource-based strategy in the development of bitumen in Nigeria.

“The bill will also ensure effective utilisation of over 38 billion reserves of bitumen in Nigeria, and promote the economic diversification policy of the Federal Government, he said.

“The proposed Bitumen Development Commission, when established, would fastrack the development of bitumen in Nigeria, make her a key player in the $147bn global market and create instant 12,000 jobs for Nigerians.

“It would also help the government at various levels to put in place asphalted roads in various communities.

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“Out of the 200, 000 kilometres of roads in Nigeria, only 20, 000 are asphalted even with imported bitumen which is not good and being addressed with the proposed commission”, Senator Ibrahim added.

After positive contributions from other lawmakers, the Senate passed the bill a second reading.

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