News
Senate seeks Nigeria’s inclusion in $147billion Global Bitumen Market …passes Bitmen Development Commission Bill for second reading
By Lateef Taiwo
The Senate Thursday made legislative move of including Nigeria in the $147billion global bitumen market with passage for second reading , a bill seeking for establishment of Bitumen Development Commission .
Nigeria as stated in the bill sponsored by Senator Jimoh Ibrahim ( APC Ondo South) , has quantum of 5.9trillion barrels ( 938billion m³) of global in – place Bitumen and heavy oil resources , second to Venezuela .
He specifically informed the Senate that more than 80% of the resources are found in Canada , United States of America , Venezuela and Nigeria .
But lamented that while other countries blessed with the Natural resources are exploiting it through required legislations or legal frameworks , Nigeria’ has no legal framework for such exploration with attendant untapped opportunities and huge market loss .
Therefore according to him, ” the objectives of the Bill includes: the need to develop a legal framework for the regulation of the Bitumen development in Nigeria; to prevent unconventional sources from taking advantage of research-enhanced applications over other competitors; and to lead innovation and resource-based strategy in the development of bitumen in Nigeria.
“The Bill will also ensure effective utilisation of over 38 billion reserve of bitumen in Nigeria; and to promote economic diversification policy of the Federal Government”.
He added that the Bill among other reasons, seeks to restrict the activities of the commission to its regulatory and cordinating functioons , specifically as it relates to the Develooment of Bitumen in Nigeria .
Ondo State alone according to him , has the highest deposit in Africa with an estimated value of $42billion which are aside from depisits in Ogun State , Edo , Lagos and Akwa- Ibom States .
” The proposed Bitumen Development Commission when established , would fastrack the development of Bitumen in Nigeria , make her a key player in the $147billion global market and create instant 12, 000 jobs for Nigerians .
” It would also help Government at various levels to put in place asphalted roads in various communities .
” Out of the 200, 000 kilometres of roads in Nigeria , only 20, 000 are asphalted even with imported Bitumen which is not good and being addressed with the proposed commission” he said .
Many of the Senators who contributed to debate on the bill , concurred with Jimoh Ibrahim’s submissions , making the Senate as put to voice votes by its President , Godswill Akpabio , passed it for second reading .
Akpabio who commended Senator Jimoh Ibrahim for sponsorship of the development – driven bill, mandated the Senate Committee on Solid Minerals to make further legislative inputs on it and report back in a month’s time .
Investigations by Nigerian Concord Newspaper reveal that the Executive Secretary of the Nigerian Shippers Council, Mr. Pius Akutah, has allegedly misappropriated public funds for a lavish lifestyle.
According to our findings, within months of assuming office, Akutah allegedly purchased a bulletproof SUV valued at approximately N850 million. In addition, he is reported to have acquired over twenty exotic SUVs for use as a convoy.
Akutah is also said to have acquired multiple high-value properties, including three in Abuja’s Maitama and Asokoro districts worth over N2 billion, and two in Lagos’ Banana Island valued at N1.8 billion. These acquisitions appear far beyond the scope of his official salary and allowances.
Further investigation suggests that Akutah may be using public funds to support political ambitions, including allegedly grooming militants across 23 local government areas in Benue State for a potential 2027 gubernatorial bid.
Staff of the Shippers Council reportedly claim that Akutah frequently accesses the council’s treasury without proper authorization. Some insiders have indicated that a petition will soon be filed with the EFCC, ICPC, and the Presidency to report his alleged misconduct.
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Investigations by Nigerian Concord Newspaper reveal that the Executive Secretary of the Nigerian Shippers Council, Mr. Pius Akutah, has allegedly misappropriated public funds for a lavish lifestyle.
According to our findings, within months of assuming office, Akutah allegedly purchased a bulletproof SUV valued at approximately N850 million. In addition, he is reported to have acquired over twenty exotic SUVs for use as a convoy.
Akutah is also said to have acquired multiple high-value properties, including three in Abuja’s Maitama and Asokoro districts worth over N2 billion, and two in Lagos’ Banana Island valued at N1.8 billion. These acquisitions appear far beyond the scope of his official salary and allowances.
Further investigation suggests that Akutah may be using public funds to support political ambitions, including allegedly grooming militants across 23 local government areas in Benue State for a potential 2027 gubernatorial bid.
Staff of the Shippers Council reportedly claim that Akutah frequently accesses the council’s treasury without proper authorization. Some insiders have indicated that a petition will soon be filed with the EFCC, ICPC, and the Presidency to report his alleged misconduct.
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I am writing to felicitate with Your Excellency, Atku Abubakar, GCON, former Vice-President of Nigeria (Zege Mule u Tiv & Wazirin Adamawa)
on the occasion of your 79th birthday anniversary.
I join your teeming admirers globally in celebrating you on this special day, an adorable Statesman and my Boss.
I recall with nostalgia, how countless generations have benefited from your generosity, wealth of experience and benevolence including being my key benefactor even as a young lawyer for my professional success.
Your Excellency, may your special day be filled with grandeur befitting your illustrious career.
I wish you continued success, prosperity, and an unending stream of accolades.
It takes a remarkable kind of fortitude to remain active in public life well into one’s golden years. Your dedication and patriotism remain truly exceptional.
May you enjoy a day of reflection on your many years of fruitful service to humanity. It is my prayer that God Almighty grants you many more healthy, fruitful, and fulfilling years ahead, and continues to endow you with wisdom, strength, and the grace to keep contributing to our nation-building.
Happy Birthday, Your Excellency.
Michael Kaase Aondoakaa SAN.
Former Attorney General of the Federation and Minister of Justice
TAU reaffirms commitment to globally competitive learning
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