The Federal Government is working towards auctioning its bitumen block in the third quarter of this year.
The Minister of Mines and Steel Development, Olamilekan Adegbite, who disclosed this through his aide on Tuesday, explained that the ministry was still gathering data on some of the bitumen fields even though they were edging close to completion. He added that there were ample opportunities for investors in the local development of bitumen.
According to him, “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 added that the ministry was working on raising the quality of barite produced in the country to the internationally acceptable standard, known as American Petroleum Institute (API) standard.
He noted that Ajaoukta steel was meant to bring development to the 13 other minerals which would have presented opportunities for investors, and created thousands of jobs for Nigerians.