Governor Akeredolu
Toluwalope Jombo – Akure
The age-long dream of prospecting the world second largest deposit of Bitumen in Ondo State into commercial quantity has begun.
Conducting newsmen round its processing yard in Irele, an official of South-West Bitumen Limited, Engr Oluwatominiyi Adeiya said the needed equipment for excavation, scoping and processing have been procured for the commencement of the first local bitumen exploitation in Africa.
While identifying the type of Bitumen in Ondo State as Tarsand variant which needs specialised technology for its processing into asphalt, Engr Adeiya assured that by the time the company’s processing plant is in place and it is operating at full capacity, importation of bitumen product into country will reduce drastically.
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He stated that before the end of the year, its product would be ready for its identified and interested local off- takers across the country thereby reducing the amount of foreign exchange being expended on the over 500,000 metric tons of bitumen needs of Nigeria annually.
The Company according to its Mining Engineer, Engr. Wilfred Akinyeke, will gradually have its production capacity move from 20,000 Metric Tonnes to 50000 Metric Tonnes monthly
“By December we should have as many as possible stock on ground. We have identified our off takers and the off takers are within the South-West. We are also looking at the entire country and probably when we get there we shall focus on exploration.
“At the beginning, the production out put will be twenty thousand metric tons of bitumen in a month and when are stabilised, when are stabilised we will move to 50,000 metric tons and so on.
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“We have brought in two categories of equipment, the first category is the mining while the second category is for the processing. For the mining, we have bulldozers and excavator to be used for clearing of areas of interest. We have been able to map out areas of interest. We are not going to leave the areas open. Once the top soil has been open, then the excavator comes in”, he said.
In his remarks the Honourable Commissioner for Information and Orientation, Mr Donald Ojogo said the project is a dream come true and a promise made real.
“This is the first time any company will show this level of commitment. And they have commenced the project and what they’ve done is very commendable” the Commissioner asserted.
The Commissioner said Ondo State Governor, Arakunrin Oluwarotimi Akeredolu, SAN, has once again actualised one of his key promises of exploiting the state’s vast natural resources through direct investment for the well-being of the people.
While assuring the company of the support of the Akeredolu administration at making the state conducive for genuine investors, Mr Ojogo pleaded with South-West Bitumen to be good to its host community.
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The Special Adviser to the Governor on Development and Investment, Mr Boye Oyewumi, appreciated the federal government for the grant of the prospecting licence to South-West Bitumen Ltd., commended Governor Akeredolu for his support.
“With this project, Ondo State would be the first and largest producer of Bitumen thereby making the state economically functional viable and functional,” the Special Adviser stated.
Several heavy-duty equipments including excavators, bulldozers, wheel loaders and three trucks laden with mobile processing plants are in the company’s yard.
