A Bitumen Development Commission Bill, 2023 (SB. 07) was introduced yesterday in the Senate at the first reading stage.
The bill which was sponsored by Senator Jimoh Ibrahim, APC, Ondo South, seeks for establishment of Bitumen Development Commission for official regulation of Bitumen exploration, development and exportation.
In the draft copy of the bill, the sponsor posited that intendment of the proposed legislation would make it possible for Bitumen as 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 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.
Speaking with journalists on the proposed bill, Senator Jimoh Ibrahim who noted that details of 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 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.”