The Senate Thursday set machinery in motion for diversification of the Nation’s economy through Bitumen Development .
Required legislation for the move , was done with first reading of a bill to that effect in plenary on Thursday.
The bill sponsored by Senator Jimoh Ibrahim ( APC Ondo South) , seeks for establishment of Bitumen Development Commission for official regulation of Bitumen exploration , development and exportation .
As sighted in the draft copy of the bill, the sponsor posited that intendment of the proposed legislation , is to make Bitumen as alternative revenue spinning product in Nigeria being the second highest deposit in the world after Canada .
The proposed commission as projected in the draft bill , should be sited in any of the three towns with high deposit of Bitumen in Ondo State which are Ode – Irele , Agbabu and Igbotako .
As proposed in the bill, Bitumen Development Commission when established , would also facilitate execution of road infrastructure across the country and also create jobs for Nigerians , particularly Geologists whose expertise would be needed in its exploration .
In a brief chat with journalists after plenary , the sponsor of the bill, Senator Jimoh Ibrahim, said details of intendment of the proposed Commission , would be made in his lead debate for second reading .
” If the proposed legislation scales through in both the Senate and the House of Representatives with attendant establishment of Bitumen Development Commission after presidential assent , it would be the first law on exploration , development and possibly exportation of Bitumen in Nigeria ” , he said .