The Federal Government is set to commence bidding process for prospective investors to explore the vast bitumen deposit in the country, Minister of Solid Minerals Development, Dr. Kayode Fayemi, has said.
Fayemi, who disclosed this during a working visit to bitumen bearing communities in Agbabu area, Ondo State, at the weekend, said the bidding round for licences would be for serious investors with proven work and financial plans.

In a statement by the Special Assistant on Media to the Minister, Olayinka Oyebode, Fayemi was quoted as saying that the process would be completed before the end of the year, reassuring the communities of government’s readiness to protect their interest through right policy and regulations.

The minister examined samples of bitumen in Agbabu, Ilubirin and Lado, and interacted with leaders of the communities, where he assured them of government’s sincerity to protect their interests.
“We want your mineral to work for you, and we are fully ready to assist your communities to ensure that you get the best from the process,” Fayemi said.

The minister said government would partner with the states, investors and the communities to ensure that the enabling environment is created.
He assured them that within the next six months massive work would commence on the bitumen project.
Explaining some of the policies that would be put in place, Fayemi said that emphasis would be placed on exploration and exploitation of the mineral.
He decried the fact that about 80 per cent of asphaltic materials used for road construction in the country was imported in spite of Nigeria’s vast bitumen deposit, adding, “Priority will be given to investors that would build processing plants. The processing plants will boost local production, which will in turn will help us meet local demands and create jobs for youths.”
The Minister stated that the major focus of the ministry is to ensure that the contribution of the solid minerals to the Gross Domestic Product (GDP) records a significant improvement from 0.3 percent to, at least, 10 percent in the near future.

https://www.today.ng/news/national/118548/commence-bidding-round-bitumen

Fayemi are you so sure that We import asphaltic or do illegal minening ....

Just give is an alternative to oyel income ..

Diversification in progress. ..

More investors in Ondo. Some yEASTful fungus won't like this news.

That is diversifying,

good

One good news today. I jst hope we don't get to see ten bad news. Happy marley rememberance

Gov. Mimiko is doing a nice job in Ondo, FG shld go to Osun and assist them there

a President with 'PhD' signed the budget without 'details', a President they alleged do not have a School Cert insisted he sees the 'budget details' before signing and went further to discover a whopping fraud! the results we shall all benefit from soon

Non of my bizness either..

no p

richidinho:
Gov. Mimiko is doing a nice job in Ondo, FG shld go to Osun and assist them there

that's what they're doing here.

35 years since Bob Marley left us. RIP!

Baba Go slow and steady.

The 5% are solidly behind you.

Even though I voted Gej,I could only wish the best for you because a successful you is a more rich me.

Why should I support Gej now when his loot didn't reach meme

okay oh

What's fayose doing in ekiti
?

All talk and no work makes this government a ......


Help me fill in the gap.

Why would Federal Government control Bitumen and other resources that States are supposed to exploit to help resources of the State Governance ?

What is really the function of the so-called Governors' Forum, if they can not sit up and instruct Federal Government to hands-off basic mineral resources so States can grow.

I laugh at this country everyday. States are eternal beggars, they even go to Abuja to ask for permission to build their sea ports and airports and even interstate roads.


Such a shame.

I am sure majority of the proceeds from this bitumen will end up in the north. SW leaders needs to unite to address this.

richidinho:
Gov. Mimiko is doing a nice job in Ondo, FG shld go to Osun and assist them there

guy which good job? I am sure you're not staying in ondo state. Non payment of workers salary for 5months is good job indeed.

Nigeria is blessed with solid minerals. Time to stop depending on crude oil.

The ministry of Fayemi has not been really proactive of late. Hope he lives up to his fans expectation.

d

But I thought bidding round has been done on this Bitumen mineral in the past during the Obasanjo's era.

What happened to that process?

to commence, to begin, to start, to build, to flag off, to introduce... add ur own o

I wonder wen state govt's would start exploring d abundant potentials dat are abound in their various states. With d volume of bitumen in Ondo state, Nigeria shouldn't b crying of bad roads all d tym.

Dollyak:
I am sure majority of the proceeds from this bitumen will end up in the north. SW leaders needs to unite to address this.

and where does the majority of the farm products produce in the north end up?

egwekwe:
Baba Go slow and steady.

The 5% are solidly behind you.

Even though I voted Gej,I could only wish the best for you because a successful you is a more rich me.

Why should I support Gej now when his loot didn't reach meme

you mean if given some of the looting of GEJ, u would have been his die hard fan? Don't tell me u are one of the political bigots.

joseph1013:
We never really learn in this country. Our obsession with Natural resources is our down-fall. Great countries are investing in human resources, we are stuck with digging the ground for more minerals.

If we pay half the attention we pay to Oil to growing our human potential, we would be a mile off.

When you have developed the human resources/potential through, say, education, isn't it the same natural resources they'd exploit for the advancement of their society??

Human resources without natural resources is like a vehicle without gas. So, as much as we pay attention to developing our human capital, we must also do the same to natural resources- they go hand-in-hand.