Firm To Invest $1 Billion In Bitumen Exploration In Ondo - Politics (2)

Firm To Invest $1 Billion In Bitumen Exploration In Ondo - Politics (2) - Nairaland

Nairaland Forum › Nairaland General › Politics › Firm To Invest $1 Billion In Bitumen Exploration In Ondo (7868 Views)

Re: Firm To Invest $1 Billion In Bitumen Exploration In Ondo by PHAYOL81: 8:50am On Jun 01, 2024

Good. But why IJEBU-ODE and not at the primary point of exploration? Perhaps, ONDO should start building a viable and efficiently-ready industrial zone that can attract processing and manufacturing firms to site their factories or plants in the state for more gains.

GOD BLESS ONDO STATE
GOD BLESS ALL SOUTH WEST STATES IN NIGERIA

GOD BLESS ALL YORUBALAND AND INDIGENES

ILE OODUA A GBEWA O
WE RISE!

Re: Firm To Invest $1 Billion In Bitumen Exploration In Ondo by seborrhic: 8:54am On Jun 01, 2024

Not only 1billion dollars,they should have said 1trillion Dollar investment.
I always say it,once you see a so called foreign entity led by a Nigerian and coming with so called foreign partners claiming to invest humongous dollars into one investment or the other and going to visit a state governor,minister or president,just know it's a scam to grapple land,a lucrative landmass or outrightly scam the government.
This is the kind of scheme Bash Ali has been trying for decades,claiming he wants to enter into Guinness world records as the oldest boxing champion,but wanting the FG to sponsor the fight by giving him or one shady promoter several millions to organize the fight in Nigeria.

Re: Firm To Invest $1 Billion In Bitumen Exploration In Ondo by Beverlyjean(f): 9:28am On Jun 01, 2024

Jonjam269:
The same you live in delusion by supporting IPOB terrorists and a serial party defector and Pandora fraudster.

I don't argue with children...go and play with ur mates

Re: Firm To Invest $1 Billion In Bitumen Exploration In Ondo by IAmHim1: 9:29am On Jun 01, 2024*

Re: Firm To Invest $1 Billion In Bitumen Exploration In Ondo by bhella10: 9:39am On Jun 01, 2024

DeLaRue:
This is just pre-election nonsense.

Before elections, every Ondo Governor will claim he has finally found investors for bitumen exploration.

Immediately election is over, there would be no sign of investors or investment.

Ondo people have been waiting for investors for at least 30 years. Politicians use it to deceive them.

I kinda agree with that. Politicians and tricks.

Re: Firm To Invest $1 Billion In Bitumen Exploration In Ondo by Magnumproperty: 10:11am On Jun 01, 2024

Serious investment is going on in Ondo state. I was surprised when I saw they've toppled Ogun state in terms of IGR

Re: Firm To Invest $1 Billion In Bitumen Exploration In Ondo by seunny4lif(m): 10:20am On Jun 01, 2024

Paraman:
Agagu didn't have time, he was removed by the court

Adefarati only did one yet look at how he managed to established AAUA

Re: Firm To Invest $1 Billion In Bitumen Exploration In Ondo by Arutan: 10:38am On Jun 01, 2024

FreeStuffsNG:
Mantu, according to him, the primary goal was to explore bitumen in Ondo State, with a processing plant already under construction in Ijebu Ode, projected to be the largest in the world.

Aiyedatiwa, in his response, expressed optimism about the partnership, noting its potential benefits, including employment creation and local economic stimulation, despite the refinery being located in Ijebu Ode, Ogun State, just a short drive from Ondo State.

He added that the development of the Ondo sea port, construction of Araromi to Lekki road and the newly flagged off Lagos-Calabar Coastal Highway, which will pass through the port corridor, would boost the bitumen exploration venture.

This is a laudable investment and partnership among the SW states that will see the bitumen extracted in Ondo State, refined in Ogun State and shipped by road through the newly commissioned 14Km Ijebu-Ode-Mojoda-Epe-Sagamu-Benin toll express road into Lagos/Ibadan,Oyo/SS states for local market and export through the Lekki Deep seaport in Lagos.

Please, bitumen extraction must not leave our environment destroyed for yet unborn generations o

Invest in the Southwest for the best returns on your investment and to enjoy the best investor friendly experience in Nigeria and Africa.

May God bless Nigeria for ever! Check my signature for free stuffs!

I visited this site as part of investors delegation in 1999. The bitumen deposit in Ondo state is insanely very very huge. It oozes out continuously like an eruption to the surface non-stop across several thousands of acres. The only deposit of its kind that oozes to the surface. Government guarantees stopped the foreign counterparts funding/investment into the project at that time. Just hope this Owena group will be able to do something about it. It’s a huge blessing to Edo, Ondo and Ogun states.

Re: Firm To Invest $1 Billion In Bitumen Exploration In Ondo by BJanta: 11:07am On Jun 01, 2024

Southwest ti japa. ♥

1 Like

Re: Firm To Invest $1 Billion In Bitumen Exploration In Ondo by grandstar(m): 11:16am On Jun 01, 2024

Sheuns:
No be only $1bn investment. What’s the cumulative budget of the state since 1999?

Instead of you to encourage farmers by supporting them with mechanized tools and resources you’re looking for $1bn investment.

Keep looking.

The $1bn is money from private investors pocket.

Supporting farmers with mechanized tools and equipment will achieve little success. This has always been the case

Re: Firm To Invest $1 Billion In Bitumen Exploration In Ondo by Ayopercent(m): 11:40am On Jun 01, 2024

DeLaRue:
This is just pre-election nonsense.

Before elections, every Ondo Governor will claim he has finally found investors for bitumen exploration.

Immediately election is over, there would be no sign of investors or investment.

Ondo people have been waiting for investors in bitumen for at least 30 years. Politicians use it to deceive them.

You are very right...
Oluwa glass
Ifon ceramics
Okitipupa oil palm mill
These are what ondo politician usually use to cajole the electorate concerning their resuscitation...

Re: Firm To Invest $1 Billion In Bitumen Exploration In Ondo by HolyboiAy(m): 2:38pm On Jun 01, 2024

They want to explore or resources to be processing in Ijebu Ode, why not build the processing plant in the State, this is not a good offer for the state.
My opinion!

Re: Firm To Invest $1 Billion In Bitumen Exploration In Ondo by HolyboiAy(m): 2:39pm On Jun 01, 2024

https://www.facebook.com/share/p/o3D66dVn9NnFcvkA/?mibextid=qi2Omg

Re: Firm To Invest $1 Billion In Bitumen Exploration In Ondo by cocoduck: 3:33pm On Jun 01, 2024

Hahahahaha 🤣🤣🤣🤣 propaganda

Re: Firm To Invest $1 Billion In Bitumen Exploration In Ondo by professorPABX: 5:19pm On Jun 01, 2024*

Arutan:
I visited this site as part of investors delegation in 1999. The bitumen deposit in Ondo state is insanely very very huge. It oozes out continuously like an eruption to the surface non-stop across several thousands of acres. The only deposit of its kind that oozes to the surface. Government guarantees stopped the foreign counterparts funding/investment into the project at that time. Just hope this Owena group will be able to do something about it. It’s a huge blessing to Edo, Ondo and Ogun states.

I think we have discussed this bitumen at a forum some years ago. I reserved the outcome of the discussion.

The investors that came during Obasanjo era are not serious, they think they are doing Nigeria good by the exploration. I will stop here. Few days ago, children on Social Media were crying because the Minister told them Kaduna Refinery is not calibrated to refine Bonny light (Nigeria's Crude Oil). For decades, the elders and politically exposed Nigerians know this. It is done for a purpose. Asphalt which is used for road construction is gotten from thick crude oil and not light crude oil. Nigeria needs Asphalt for road construction, hence, Kaduna Refinery is designed for this good purpose.

Now, from the preamble above, we can now see where Bitumen comes in. Asphalt for road construction. Asphalt is thicker and last longer but the comparative advantage of having Bitumen locally saves foreign exchange and creates jobs.

My problem with Ondo State is that why is it few months to every gubernatorial election there must be an interested investor on Bitumen exploration or Deep Seaport construction. It seems it is just for political purpose.

Though, FG through Umahi is considering concrete roads in some places but asphalt would still be used in many FG and States road.

The FG is investing in iron rods (steel) production at Ajaokuta to meet demand for concrete roads. Estimated $10 billion dollars in total has been spent on Ajaokuta. The FG has spent estimated $12 billion dollars including money spent by JV partners on oil exploration in the North. It took Late Alhaji Iyanda Folawiyo a rare courage to risk exploration prospecting in Offshore Lagos. He died before oil was found.

I am yet to see any natural resources in the South West that FG has committed billion of dollars to prospect and explore and process or for its exploitation. The South South and South East never needed such investments as the oil & gas deposits are already attractive to investors.

What stops the Federal Government from investing in the exploration or exploitation of the bitumen and sell the products to private investors for processing. Since Obasanjo era, the amount spent on Ajaokuta or the money spent to prospect for oil the North, they can also channel money to explore the Bitumen in Ondo.

The son of Ibrahim Mantu bringing investors to Ondo to explore Bitumen that has been there when his father was the deputy senate president is not a good news to me.

1 Like

Re: Firm To Invest $1 Billion In Bitumen Exploration In Ondo by blacknp(m): 5:59pm On Jun 01, 2024

Nonny95:
Don't mind the clown FreestuffNG 😂

Abi Ondo state dey Biafra Republic?

Re: Firm To Invest $1 Billion In Bitumen Exploration In Ondo by Sheuns(m): 6:06pm On Jun 01, 2024

grandstar:
The $1bn is money from private investors pocket.

Supporting farmers with mechanized tools and equipment will achieve little success. This has always been the case

No company is investing 1bn USD in Ondo state. It is all lies from the governor to secure votes. Agriculture will achieve much more if the government creates avenue for farmers to make their work easier.

Re: Firm To Invest $1 Billion In Bitumen Exploration In Ondo by professorPABX: 6:49pm On Jun 01, 2024

Sheuns:
No company is investing 1bn USD in Ondo state. It is all lies from the governor to secure votes. Agriculture will achieve much more if the government creates avenue for farmers to make their work easier.

Where is the land for Agriculture? At Ore, Ondo State already have agency for Agricultural development. When you are talking about Agriculture that is another developmental area. You have to consider development in the Coastal areas of Ondo State. That is where you have oil & gas and bitumen. That is where you have the proposed deep sea port and the abandoned OLOKOLA LNG project. Now, Lagos Calabar Coastal Highway is passing through the area.

Bitumen cannot be abandoned for Agriculture. If Obasanjo had done 3rd term, Bitumen and OLOKOLA LNG would have been a reality by today.

Federal Government should invest in the Bitumen development. They should establish National Bitumen Company of Nigeria, fund it , secure Overseas Technical Partner for it. They can now sell the products to processing companies. After about 20 years of operation they can now sell it.

Federal Government has not done this in South West for any natural resources.

If Agriculture is lucrative, all the investment of Federal Government and International Donor Agencies in the North for decades would have yielded results.

1 2 Reply

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