Headline National News Nigeria

Nigeria sets for production of Bitumen

The Minister of Mines and Steel Development, Olamilekan Adegbite says the cost of road construction in the country will ultimately come down with the local production of bitumen.

Mr Adegbite was speaking in Abuja during a press briefing on the concession of the delineated Nigerian bitumen blocks, as the nation commenced the process of local Bitumen production.

The minister also said local bitumen production would save the country’s foreign exchange and generate income for the government.

He disclosed that Nigeria’s bitumen deposits are ranked sixth in the world in terms of reserve size, saying that the nation was endowed with a bitumen reserve size of 42.74 billion metric tonnes, which had remained unexploited for years.

The country, according to him, is now poised to begin the production of bitumen locally, having already appointed a transaction advisor to oversee the process.

He added that it was in the effort to ensure that Nigeria’s bitumen resources were fully harnessed for industrial and infrastructural development that the ministry, under his watch, constituted a nine-member Ministerial Bitumen Development Committee on January 31, 2020.

Reporting by Hadiza Abdulrahman; Editing by Daniel Adejo and Tony Okerafor