The minister of solid minerals development Dele Alake says “with an estimated reserve of 42 billion barrels of bitumen and the second largest deposit in the world, Nigeria has no business importing bitumen”
Speaking during a meeting with the concessionaires, of bitumen blocs bidding in Abuja, Alake urged them to live up to expectation by complying with the terms of engagement and relevant sections of the mining act whilst taking cognisance of the host communities and seeking their cooperation.
The minister promised the support of the federal government for the bitumen investors, stating that their success holds immense potential for economic growth and prosperity, heralding diversification of the economy.
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in his remarks, the director-general of the mining cadastral office (MCO), Obadiah Nkom revealed that there have been two unsuccessful attempts at concessioning Nigeria’s bitumen blocks in 2002 and 2008.
He noted that following the latest successful bidding process, the MCO granted a total of thirty-four (34) bitumen licenses, comprising (18) exploration licenses and sixteen (16) mining licenses.
The approval was granted after the minister’s approval and a final endorsement by the federal executive council (FEC).
(Editor: Ebuwa Omo-Osagie)
