News Formal

Nigeria Missing out of the $110bn global bitumen market, Senate

  • 📰 vanguardngrnews
  • ⏱ Reading Time:
  • 38 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 18%
  • Publisher: 75%

Business News News

Business Business Latest News,Business Business Headlines

THE Senate has said that Nigeria as a country was missing out of the $110billion bitumen global market, just as it stressed that there was the urgent need for the nation to tap into the market.

The Senate disclosed this yesterday during a one day public hearing on a bill seeking for an Act to Establish Bitumen Development Commission of Nigeria Bill 2023, organized by the Senator Samson Ekong, PDP Akwa Ibom South led Senate Committee on Solid Minerals.

According to him, the $110billion bitumen global market according to him, is currently being controlled by Nine countries in the world , some of which have less quantities of the Natural resources when compared to Nigeria . Ibrahim said, ” Bitumen Development Commission of Nigeria will lead innovation and improved strategy of finance resource. A good case of the impressive alternative revenue for Nigeria.”

“The mining industry in Nigeria has understandably, been identified as a key driver of economic diversification, investment, foreign exchange earnings and social inclusion. With its vast potentials, the sector deserves every necessary policy attention and legislative intervention to fast-track its full exploration.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 5. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Senate moves to strengthen Nigeria’s position in the global gold marketThe Senate on Wednesday passed for a second reading, a bill for an act to make provision for the Nigerian gold reserve industry.
Source: DailyPostNGR - 🏆 11. / 59 Read more »

JUST IN: Senate Passes Bill Regulating Cattle Rearing Business in NigeriaA Trusted Nigerian Newspaper
Source: NigeriaNewsdesk - 🏆 10. / 63 Read more »