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

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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.

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