Senate moves to establish Bitumen Commission as a catalyst for development

In a bid to diversify the nation’s economy, the Senate has begun moves to turn the tide in the area of Bitumen Development as a catalyst by creating the Bitumen Development Commission. A Bitumen Development Commission Bill, 2023 (SB. 07) to this effect was introduced yesterday in the Senate as the first reading.

Senator Jimoh Ibrahim, APC, Ondo South who sponsored the bill sought the establishment of Bitumen Development Commission for official regulation of Bitumen exploration, development, and exportation.

In the draft copy of the bill which was sighted, the sponsor posited that the intendment of the proposed legislation would make it possible for  Bitumen as 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.

Speaking with Journalists on the proposed bill, Senator Jimoh Ibrahim who noted that details of the intendment of the proposed Commission would be made in his lead debate for second reading said,” If the proposed legislation scales through in both the Senate and the House of Representatives with the 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.”