By James Itodo
A Bill for the establishment of Bitumen Development Commission has passed second reading in the Senate.
The bill sponsored by Senator Jimoh, Ibrahim representing-Ondo South which seeks to regulate the activities of the commission as it relates to the development of bitumen in the country was unanimously supported by all senators during plenary in Abuja.
According to him globally, Bitumen and heavy oil resources were estimated to be at 5.9 trillion dollars per barrel.
Senator Ibrahim explained that the objectives of the bill includes, the development of a legal framework for the regulation of bitumen development.
He said the bill would help to lead innovation and resource-based strategy in the development of bitumen in Nigeria.
According to him, the bill will ensure effective utilisation of over 38 billion dollars reserve of bitumen in Nigeria; and promote economic diversification policy of the Federal Government.
The President of the Senate, Godswill Akpabio referred the bill to the Committee on Solid Minerals Development for further legislative input .
Edited By Grace Namiji
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