The Nigerian Senate has proposed the establishment of Bitumen Development Commission for the official regulation of Bitumen exploration and exportation as part of efforts to diversify the economy
Senate’s efforts geared towards realizing this diversification need became manifest on Thursday following the first reading of a Bill to actualise the objective.
The bill sponsored by Senator Jimoh Ibrahim, seeks to establish the Bitumen Development Commission
According to the bill, the sponsor is proposing the legislation to make Bitumen an alternative revenue-spinning product in Nigeria, being the second highest deposit in the world after Canada.
The proposed commission as projected in the draft bill, should be sited in any of the three towns with high deposits of Bitumen in Ondo State which are Ode – Irele, Agbabu and Igbotako.
As proposed in the bill, Bitumen Development Commission when established, would also facilitate the execution of road infrastructure across the country, and also create jobs for Nigerians, particularly Geologists whose expertise would be needed in its exploration.
In a brief chat with journalists after Thursday’s plenary, the sponsor of the bill, Senator Jimoh Ibrahim, said details of the proposed legislation would be made public during his lead debate for the second reading of the Bill.
“If the proposed legislation scales through in both the Senate and the House of Representatives with attendant establishment of Bitumen Development Commission after presidential assent, it would be the first law on exploration, development and possibly exportation of Bitumen in Nigeria,” he said.
PIAK
