Minister of Mines, Steel Development, Olamilekan Adegbite, says that Nigeria will soon begin production of 42.74 billion metric tonne (MT) bitumen.
Written by News Room on April 26, 2022
The Minister of Mines and Steel Development, Olamilekan Adegbite, has said that Nigeria will soon begin production of 42.74 billion metric tonne (MT) bitumen, which has been left fallow for years.
He said the cost of road construction in the country would ultimately reduce with the local production of bitumen.
The minister disclosed this, on Monday, in Abuja, during a press briefing on the concession of the delineated Nigerian bitumen blocks.
Adegbite observed that local bitumen production would save the country foreign exchange and generate income for the government, adding that Nigeria ranks sixth in the world in terms of bitumen reserve.
He said the country was now poised to begin the production of bitumen locally as it has appointed a transaction advisor to oversee the process.
Ameen J. Kantyok