The minister of mines and steel development says the federal government will soon allow the bitumen reserve of 42.74 billion metric tonnes to undergo concession.<\/p>\n\n\n\n
He said this is to solve the problem of over-reliance on imported bitumen for domestic road construction.<\/p>\n\n\n\n
The minister made this known while briefing the newsmen on the concession of delineated bitumen blocks on Monday in Abuja.<\/p>\n\n\n\n
He said the concession of the bitumen became imperative as Nigeria ranks sixth in the world in terms of reserve size but still depends on importation for the construction of its roads among others.<\/p>\n\n\n\n
Mr Adegbite said Nigeria\u2019s population is growing and this will increase the demand for road infrastructure and put additional strain on the current road network, resulting in higher demand for asphalt for construction and maintenance.<\/p>\n\n\n\n
\u201cBitumen is a crucial component of asphalt that is used in road construction, Nigeria currently has 200,000 km of road networks with only 60,000km worth of road paved,\u201d he said.<\/p>\n\n\n\n
\u201cWe have a total bitumen reserve size of 42.74 billion metric tonnes, which has remained unexploited for years.<\/p>\n\n\n\n
\u201cNigeria\u2019s population is projected to reach 400 million in 2050, up from the present estimate of 203 million, given the population growth rate of 2.5 per cent.<\/p>\n\n\n\n
\u201cThe World Bank projects that Nigeria\u2019s current urbanisation rate of 52 per cent will increase by four per cent annually.<\/p>\n\n\n\n
\u201d 90 per cent of goods, such as food and building materials are transported by road to meet the demand of the rising population and it will put a strain on the current road network,\u201d he said.<\/p>\n\n\n\n
According to him, the ministry constituted a nine-member Ministerial Bitumen Development Committee on Jan. 31, 2021 to conduct an inventory to ensure bitumen is fully harnessed for industrial and infrastructural development,<\/p>\n\n\n\n