By Fatima Saka
Abuja, Nigeria – The Nigerian Senate on Wednesday passed the bill for the establishment of the Bitumen Development Commission of Nigeria, in a major move aimed at diversifying the country’s economy and harnessing its vast natural resources. The bill was sponsored by Senator Jimoh Ibrahim, representing Ondo South Senatorial District.
Titled “A Bill for an Act to Establish the Bitumen Development Commission of Nigeria and Provide a Legal Framework for the Promotion of Research, Study, Investment, Exploration, Production, Exportation, Development, and Utilization of Locally Sourced Bitumen in Nigeria, and for Related Matters, 2025 (SB.07)”, the legislation was passed after a detailed consideration of the report presented by Senator Diket Plang, Vice Chairman of the Senate Committee on Solid Minerals Development.
The bill scaled third reading after undergoing clause-by-clause scrutiny in the Committee of the Whole, during which all 27 clauses, including the interpretation section, short title, schedule, and explanatory memorandum, were unanimously adopted by lawmakers.
In supporting the bill, Senator Mametai Mokuno of Oron-Tsenetora Senatorial District hailed the legislation as key to driving Nigeria’s economic diversification agenda.
“This bill is in line with the government’s renewed commitment to diversify our monolithic oil-dependent economy. Nigeria has significant untapped bitumen reserves valued between $13 billion and $42 billion. If properly harnessed, these reserves will generate revenue, boost foreign reserves, create jobs, and enhance national infrastructure,” Mokuno stated.
The sponsor of the bill, Senator Jimoh Ibrahim, has long championed the development of Nigeria’s bitumen sector, especially given the strategic importance of the resource to his home state of Ondo, which is known to hold some of the largest bitumen deposits in Africa.
Senate President Godswill Akpabio praised the sponsor and the entire Senate for their commitment, and expressed confidence that the Bitumen Development Commission would play a transformative role in the country’s economic future.
“Let me thank Senator Jimoh Ibrahim for sponsoring this landmark bill and the Senate Committee on Solid Minerals Development for their diligent work. This Commission will reduce pressure on our foreign exchange, promote domestic industrialization, and unlock massive employment opportunities,” Akpabio said.
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He urged the House of Representatives to give the bill accelerated consideration and ensure swift transmission to the President for assent.
With the passage of the bill, Nigeria moves a step closer to becoming a global leader in bitumen production and utilization, with the potential to significantly boost its infrastructure, revenue base, and local content development in the solid minerals sector.
