The bill that is projected to bring about the diversification of the nation’s economy through massive Bitumen production scaled second reading at the senate on Thursday
The bill which seeks to provide a legal framework for the mining, production and exportation of bitumen in the country has passed second reading in the senate
The bill sponsored by Jimoh Ibrahim (APC, Ondo South) was read for the second time during the plenary on Thursday and it was referred to the Senate Committee on Solid Minerals for further legislative input.
The objectives of the bill, according to the senator included, the need to develop a legal framework for the regulation of the Bitumen development in Nigeria; To prevent unconventional sources from taking advantage of research-enhanced applications over other competitors.
Others are, to lead innovation and resource-based strategy in the development of Bitumen in Nigeria
He said it will ensure effective utilisation of over 38 billion reserve of Bitumen in Nigeria; and promote economic diversification policy of the Federal Government.
The Senate President, Godswill Akpabio, in his remarks directed the committee to report back to the senate within one month.
Senator Ibrahim, while leading the debate on the legalisation of bitumen, advocated for the establishment of the Bitumen Development Commission of Nigeria claimed that the establishment of the agency is necessary because it will increase the revenue generation of the country.
The Senator noted that the agency will be saddled with the responsibility of regulating all mining , production and exportation process of bitumen in the country.
He claimed that bitumen exploration will contribute positively in promoting economic activities of the country, when the legal framework is finally passed.
The senator also said the exploration of bitumen in the country will promote the economic diversification policy of the federal government.
The bill got the support majority of the senators for the passage when it was put to debate through a voice vote.
Babanjida Husseni (APC, Jigawa Northwest) seconded the motion that the bill should be passed.
Husseni said the legalisation of the exploration of bitumen will facilitate construction of good roads in different parts of the country.
Oyewunmi Olalere (PDP, Osun West) said Nigeria needs a legal framework to utilise all the Bitumen discovered in different parts of the country.
Seriake Dickson (PDP, Bayelsa West) who also supported passage of the bill said the legalisation will help to develop economic activities of the country.
The bill was sponsored by Senator Jimoh Ibrahim (APC – Ondo South).It sought the establishment of Bitumen Development Commission for official regulation of Bitumen exploration, development and exportation.The sponsor of the bill, posited that the proposed legislation was to make Bitumen, an alternative revenue spinning product in Nigeria being the second highest deposit in the world after Canada.
He proposed that the commission should be sited in any of the three towns with high deposit 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 execution of road infrastructure across the country and also create jobs for Nigerians, particularly Geologists whose expertise would be needed in its exploration.
He said, “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.”