The Senate proposes the creation of a bitumen commission
On Thursday, the Senate set in motion the mechanisms for diversifying the national economy through the development of bitumen.
To achieve this goal, the Senate is working on a bill that will help transform exploration and regulation.
The bill sponsored by Senator Jimoh Ibrahim (APC Ondo South) seeks to establish the Bitumen Development Commission for the formal regulation of bitumen exploration and development. The bill passed its first reading on Thursday.
Senator Ibrahim noted that bitumen can be an alternative revenue generating commodity in Nigeria and the second highest deposit in the world after Canada.
The proposed commission, as foreseen in the bill, is expected to be located in one of the three high-bitumen towns in Ondo State, namely Ode-Irele, Agbabu and Igbotako.
As proposed in the bill, the Bitumen Development Commission, once established, would also facilitate the execution of road infrastructure across the country and also create jobs for Nigerians, especially geologists whose expertise would be needed for its exploration.
In a brief chat with reporters after the plenary, the bill's sponsor, Senator Jimoh Ibrahim, said details of the proposed commission's intent would be released during its main debate at second reading.
He said, "If the proposed legislation passes both the Senate and the House of Representatives with the concurrent establishment of the Bitumen Development Commission after presidential approval, it would be the first law on the exploration, development and eventual export of bitumen in Nigeria."
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On Thursday, the Senate set in motion the mechanisms for diversifying the national economy through the development of bitumen.
To achieve this goal, the Senate is working on a bill that will help transform exploration and regulation.
The bill sponsored by Senator Jimoh Ibrahim (APC Ondo South) seeks to establish the Bitumen Development Commission for the formal regulation of bitumen exploration and development. The bill passed its first reading on Thursday.
Senator Ibrahim noted that bitumen can be an alternative revenue generating commodity in Nigeria and the second highest deposit in the world after Canada.
The proposed commission, as foreseen in the bill, is expected to be located in one of the three high-bitumen towns in Ondo State, namely Ode-Irele, Agbabu and Igbotako.
As proposed in the bill, the Bitumen Development Commission, once established, would also facilitate the execution of road infrastructure across the country and also create jobs for Nigerians, especially geologists whose expertise would be needed for its exploration.
In a brief chat with reporters after the plenary, the bill's sponsor, Senator Jimoh Ibrahim, said details of the proposed commission's intent would be released during its main debate at second reading.
He said, "If the proposed legislation passes both the Senate and the House of Representatives with the concurrent establishment of the Bitumen Development Commission after presidential approval, it would be the first law on the exploration, development and eventual export of bitumen in Nigeria."
Please share this story:
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