The Nigerian Senate, on Wednesday passed a Bill for the third reading to establish the Bitumen Development Commission.
The Bill, titled “An Act to Establish the Bitumen Development Commission of Nigeria and Provide a Legal Framework for the Promotion of Research, Study, Investment, Exploration, Production, Exportation, Development and Utilisation of Locally Sourced Bitumen in Nigeria and for Related Matters (2025)”, aimed at regulating and promoting investment in the exploration, development, and exportation of bitumen in Nigeria.
The passage was sequel to the presentation and adoption of the report of the Senate Committee on Solid Minerals Development, chaired by Senator Sampson Ekong (PDP, Akwa Ibom South).
The Bill, sponsored by Senator Jimoh Folorunsho Ibrahim, seeks to harness Nigeria’s estimated 42 billion tonnes of bitumen reserves, considered the second-largest deposit globally after Canada.
The proposed Commission, according to Senator Jimoh will develop policies regarding bitumen regulations and provide funding for bitumen research activities and small-scale exploration and production directly connected to bitumen utilization in Nigeria.
The Commission will attract local and foreign investment into the sector, promote research, and enhance the economic diversification policy of the Federal Government.
In addition, the Commission will promote research and study, investment, exploration, production, exportation, development, and utilization of locally sourced bitumen.
Following an overwhelming majority support from the lawmakers, the Senate President, Godswill Akpabio referred the Bill to the Committee on Solid Minerals Development for further legislative actions.
The Committee was mandated to conduct a public hearing and interface with key stakeholders, including industry experts, state governments, and regulatory agencies for more insights.
The Bill will now be transmitted to the House of Representatives for concurrence. If approved, it will be sent to the President for assent, paving the way for the formal establishment of the Bitumen Development Commission of Nigeria.