Why do we have to be spending over N300bn annually to import what we have in abundance?
The Association of Bitumen Marketers and Distribution of Nigeria(ABIMD) has said that Nigeria loses over N300bn annually to massive importation of bitumen.
IRIELE, a small community situated in Ondo state and her indigenes have high hopes for development of their natural endowment. Over the years, they have dreamt of the day when bitumen would be exploited, creating job opportunities, infrastructure and economic prosperity.
The people of this town consider bitumen as a God endowed heritage which should be harnessed immediately to create jobs, deliver infrastructure and reduce the hardship they face daily. Those dreams have not become reality up till now, denting their hopes and leaving them frustrated as the indigenes of these towns wait endlessly for the government to attract the needed investment.
In the light of the foregoing is the pressing need to tap into Nigeria’s rich mineral reserves. The failure of government to properly utilise the wealth of the nation to the betterment of lives of the citizenry has long been overlooked. This belief is voiced by majority of the ordinary people in this bitumen bearing community – including border communities like Agbabu and Ilubirin.
The mono-economy of Nigeria is totally forced on Oil, that single product that has become an albatross to the country. Some even described the exploitation of oil as a curse as it has denied other mineral resources attention.
One of such mineral resources that oil has denied attention is bitumen. The Nigerian bitumen deposit put at 42.74 billion metric tons is the second largest in the world and was first discovered in 1900. While Canada, the world largest bitumen country is using bitumen to develop every nooks and crannies of the country massively in road construction and other uses, Nigeria with the second largest bitumen deposit in the world is allowing the product to waste away unattended to.
The Ondo State Governor, Arakunrin Oluwarotimi Akeredolu has said that: ” The main mission of the administration is to lead a patriotic, highly inspired and competent team to rescue the ship of the state. We intend to help rebuild our economy, resuscitate damaged infrastructure, restore hope and return our state to a prosperous land. We are determined as an administration to break down the barriers that have made stagnation possible. We will break down the barriers to honest leadership, to comprehensive development, to physical growth and social security. These we intend to do through the promotion of transparent leadership, rule of law, extensive consultation, quality and accessible public utilities and social security; all in a sustainable manner”.
He added that: ” We have transited regrettably from a producing economy to a basically consumption society, which depends almost solely, on handout to survive. The resultant effect of the unproductive attitude is grinding poverty, desperation and hopelessness among our people. It is cruel irony that a state, richly endowed in material and human resources wallows in inexplicable privation.
Arakunrin should therefore act fast by using this great opportunity to liaise with the Federal government to tap this goldmine. It is not a coincidence that APC is ruling at the Federal level and in Ondo State this time around, bitumen must be tapped to the benefit of the communities, the state and federal government.
Efforts toward the exploitation of the resources is in top gear as the Minister of Solid Minerals Development, Dr. Kayode Fayemi recently visited Agbabu to access the product. According to him, the Federal government is set to open the process for prospective investors interested in exploring the country’s vast bitumen deposit to bid for allocation of operational licences.
He added that any serious investors with proven works and financial plans would be allowed to participate in the bid round. The Minister, who assured the communities of government readiness to protect their interests through right policy and regulations, said the licencing process will be completed in a year.
Fayemi lamented that about 80 percent of asphaltic materials used in road construction in the country are still imported in spite of the vast bitumen deposit.
He added that tax holiday and duty free regime on mining equipment have been put in place to encourage serious investors.
The major problem confronting the exploitation of bitumen in the country has been lack of technical expertise and the high cost of tapping the resources, couple with government unwillingness to let go of oil money. To stem the tumbling economy which is monolithic in nature, the new administration must work with all the authorities involved to make tapping of bitumen a reality in the state. The second largest bitumen in the world lying fallow should be a great concern to all in the country. It is now dawn on us that over reliance on petroleum will continue to bring untold hardship on citizenry with the way world oil prices crashed. If the country’s economy has been diversified, the present hardship would have been minimal, for the country and mostly Ondo State would have something to fall back on.
Ondo State is a peaceful state, good for investors to invest, so ,the reason why Arakunrin and his team must do everything to bring into reality the exploitation of bitumen in the state.
Mimiko’s administration in its twilight signed a bitumen exploration agreement with the Liquefied Resources Company, but it must be confessed that the present administration must liaise with those that matter in the country to put the product to use.
There is no doubt that the exploitation of bitumen will have a heavy toll on the environment of Irele and neighbouring Agbabu and Ilubinrin communities in Ondo State, their water will be polluted, farm land destroyed, large expense of forest will be brought down and some communities will be destroyed , but the aftermath joy is more than the pain.
This is the kind of pain that the Communities with bitumen in Ondo State are ready to bare to have sustainable economy development.
There should be synergy between the state and the Federal government to see to the reality of bitumen exploration coming into fruition, and the time is now when the price of petroleum has crashed in the world market and the revenue accruing to the FG and states nosedived. The process whereby contractors have to import the product at exorbitant price for road construction will reduce drastically and Ondo State roads will be good for development.
:hopeonbitumen
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