“With an estimated reserve of 42 billion barrels of bitumen and the second largest deposit in the world, Nigeria has no business importing bitumen. We should be a major net exporter to the rest of the world and we have no choice but to make this a reality”. With those words, the Minister of Solid Minerals Development, Dr. Dele Alake …

The Senate, on Thursday, sought the inclusion of Nigeria in the $147 billion global bitumen market with the passage for a second reading, a bill seeking the establishment of a Bitumen Development Commission. Senator Jimoh Ibrahim (APC, Ondo South), who sponsored the bill, said Nigeria has 38 billion bitumen reserves. According to Ibrahim, Ondo State has the highest bitumen deposit …

A bill seeking the creation of the Bitumen Development Commission passed its first reading at the Senate on Thursday. The bill, sponsored by Senator Jimoh Ibrahim (All Progressives Congress, Ondo South), seeks official regulation of bitumen exploration, development and exportation. Ibrahim said that the move would aid the government’s efforts to diversify the economy, noting that bitumen could be an …