ABUJA, July 4, 2025 – In a significant milestone for Nigeria’s mineral resource governance, the Senate on Wednesday, July 2, 2025, passed the Bitumen Development Commission (Establishment) Bill. The Bill, sponsored by Senator Jimoh Ibrahim (APC–Ondo South), has completed third reading and is now headed to the House of Representatives before being sent for presidential assent.…..For More READ THE FULL ARTICLE HERE ▶▶
Why It Matters
Nigeria holds roughly 42 billion tonnes of bitumen, second only to Canada and Venezuela, almost double the country’s oil reserves .
Without a dedicated regulatory framework, this strategic resource remains underutilised. Establishing the Commission is intended to drive exploration, production, value addition, and export .
The move aligns with the government’s economic diversification efforts, reducing dependence on oil and creating jobs in geology, road construction, refining, and engineering sectors .
Legislative Process & Support
The Senate Committee on Solid Minerals Development, led by Senator Diket Plang (Plateau Central), conducted public hearings in July 2024. Stakeholders strongly backed the establishment of the Commission .
During plenary, Senate President Godswill Akpabio lauded the passage as “development-driven and future-focused” .
Chief Whip Tahir Monguno highlighted its alignment with the “Renewed Hope” agenda, noting its potential to yield new revenue streams and enhance industrial capacity .
Counterpoints
At the July 2024 public hearing, Minister of Solid Minerals Dele Alake cautioned that creating a commission for a single mineral type deviates from global best practices, could inflate governance costs, and encourage other regions to seek similar commissions . Despite his reservations, the Senate passed the Bill by voice vote in the Committee of the Whole .
Celebrations in Ondo State
Ondo South, particularly the Ikale and Ilaje communities, stand to benefit significantly, as bitumen reserves rest largely beneath their lands. Senator Ibrahim emphasized that the global bitumen market—valued around USD 107 billion in 2023 and projected to hit USD 147 billion by 2030—could propel regional development .
Senator Ibrahim, holding degrees from Cambridge and Harvard, took to social media to declare...…..For More READ THE FULL ARTICLE HERE ▶▶
“I am delighted to announce that my bill for the establishment of the Bitumen Development Commission of Nigeria (2025) has today passed the third reading.”
Ikale and Ilaje: Senate Passes Landmark Bitumen Development Commission Bill
