Senate initiates move on bitumen exploration as solution to national development

According to the sponsor, Senator Jimoh Ibrahim the proposed legislation if passed into law, will be the first that will focus mainly on the exploration, development, and potential exportation of Bitumen in Nigeria.

In a significant move towards economic diversification, the Senate is initiating plans to leverage bitumen development as a catalyst for the country’s progress.

To this end, it passed for first reading, a Bill to establish the Bitumen Development Commission responsible for the official regulation of bitumen exploration, development, and exportation, sponsored by Senator Jimoh Ibrahim (APC, Ondo South).

According to the sponsor, the central goal of the proposed piece of legislation is to position bitumen as a viable alternative source of revenue for Nigeria, considering especially that the country boasts the second-highest bitumen deposits globally, surpassed only by Canada.

READ ALSO: Ayetoro: Senate probes NDDC multi-billion naira shoreline protection contract

As outlined in the draft copy of the bill, the proposed commission is expected to be situated in one of three towns in Ondo State with significant Bitumen deposits, namely Ode-Irele, Agbabu, or Igbotako.

Additionally, once the Bitumen Development Commission is established, it will not only support its exploration but also facilitate the construction of essential road infrastructure across the country.

This, in turn, is expected to generate employment opportunities, particularly for skilled professionals like geologists, whose expertise will be invaluable in the exploration process.

READ ALSO: Wupa Sewage Plant: Senate tasks AEPB on alternative energy

Senator Jimoh Ibrahim, who spoke briefly with journalists after the plenary, said he will provide further details on the objectives and functions of the proposed commission during the lead debate for the second reading.

“If the proposed legislation successfully passes both the Senate and the House of Representatives and receives presidential assent, it will mark a historic moment as the first law specifically focusing on the exploration, development, and potential exportation of Bitumen in Nigeria,” the lawmaker confidently stated.