Senate President Godswill Akpabio has commended the Senate Committee on Solid Minerals for its strategic legislative efforts aimed at strengthening Nigeria’s economic diversification through reforms in the solid minerals sector.
Akpabio gave the commendation during plenary on Wednesday, shortly after the Senate passed the Bitumen Development Commission Bill through Third Reading.
The Bill, sponsored by Senator Jimoh Ibrahim (Ondo South), is now set for transmission to President Bola Ahmed Tinubu for assent. It seeks to establish a statutory body to regulate the exploration, exploitation, and production of bitumen in Nigeria.
While applauding the Committee for what he described as a “bold and necessary step,” Akpabio specifically lauded the leadership of Senator Ekong Sampson and members of the Committee for their diligence and commitment in expanding the nation’s legislative frontiers in the mineral sector.
“The passage of this Bill is another milestone in our resolve to unbundle Nigeria’s enormous mineral wealth and redirect our economy beyond oil,” Akpabio said. “I commend Senator Ekong Sampson and the entire Committee for their resilience, and Senator Jimoh Ibrahim for his foresight in conceiving such an economically strategic Commission.”
Presenting the report earlier on behalf of the Committee Chairman, Senator Diket Plang (Plateau Central) noted that the proposed Commission would serve as a key regulatory institution for Nigeria’s bitumen reserves, estimated at approximately 42 billion tonnes, the second largest deposit globally.
Senator Plang emphasized that the Bitumen Development Commission would play a critical role in job creation, infrastructure development, and in attracting local and foreign investment into the solid minerals value chain.
With the Senate’s approval, expectations now shift to the Presidency for timely assent to what industry observers describe as a game-changing legislation in Nigeria’s mineral economy.
