Ondo State Set To Begin Bitumen Exploration

Arrangements are in top gear to kick-start the exploration of the large deposit
of Bitumen in Ondo State by an indigenous company, South West Bitumen,
(SWB) which has secured a 25-Year renewable operational mining license
across a land mass of about14,800 Hectares in the Southern part of the
Sunshine State.
Speaking during a working visit to the Ondo State Governor, Oluwarotimi
Akeredolu, SAN; the Managing Director of South West Bitumen Company,
Engineer Akin Odumakinde, disclosed that construction of a befitting
operational base for the company would be completed within the next three
months.
Engineer Odumakinde who told the governor that the SWB was ready to
commence mining operation of bitumen in the state very soon having taken
delivery of needed equipment and paid the agreed compensation to the
families of land owners whose landed properties were within the landmass
acquired for the project.
He said on completion, several persons would be employed from the host
communities across Odigbo , Irele and Okitipupa Local Government Areas.
He categorically stated that a Bitumen Research and Development Centre has
been established at the Federal University of Technology in Akure and its
affiliate to be at the state’s University of Science and Technology, Okitipupa.
At inception of his administration the governor had stated that the bitumen
project was close to his heart adding that the product which the state has in
large abundance would not only be harnessed but also bring about the desired
change to the economic fortunes of the state.
While briefing the governor on the efforts carried out so far on the project, the
Managing Director explained that the nation stands to benefit a lot from the
project.
He stressed that Nigeria consumes more than 95% of bitumen processed in
West Africa, noting that the state ranked 5th largest bitumen reserves in the
world with the potential of producing asphalt products that can compete in the
international market if explored.
Responding, Governor Oluwarotimi Akeredolu commended the company for its
efforts towards ensuring the realisation of the untapped products and also
resolving with host communities in a more civil manner which will be of great
benefit to them and the state at large.
Arakunrin Akeredolu acknowledged the former Minister of Mines and Steel
Development and now the Governor of Ekiti, Dr Kayode Fayemi, for his
immeasurable interest at granting the license to the company .
He assured that the State Government would look speedily into the request to
confer Deeds of Ownership of the acquired land for the project on the company
through the issuance of Certificate of Ownership.

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