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FG to auction bitumen block

From left to right Greg Klemm, assistant, to the Australian High Commissioner, arc Olamilekan Adegbite, the Honourable Minister of Mines and Steel Development, John Donnelly Australia High commissioner to Nigeria , Olu Adedayo Senior Special Assistant to the Minister

The Minister of Mines and Steel Development, Mr. Olamilekan Adegbite, has said that the ministry is working towards auctioning its bitumen block in the third quarter of the year.

The Minister stated this when he received the Australian High Commissioner to Nigeria John Donnelly in the ministry.

Mr. Adegbite revealed that the ministry was still gathering data on some of the bitumen fields and was edging close to completion.

“A lot of people are interested in bitumen which is coming from both local and foreign investors. However, we are still acquiring data in some of the fields and once the data is in we will go for auctioning in the third quarter,” he said adding that PWC, was advising the ministry on its bitumen development road map.

He said there were ample opportunities for investors in the local development of the bitumen sector.

The Minister, further revealed that the ministry had contracted a consultant to help raise standards in the local production of barite to ensure that the oil industry players begin to use barite produced in Nigeria as against importing from other countries.

The Australian High Commissioner to Nigeria John Donnelly, expressed his country’s willingness to work with Nigeria to develop the mining sector.

Hadiza Abdulrahman

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