HM @tundefashola says the expected cost of locally-produced bitumen is about N125,000 per metric tonne, versus imported bitumen which is N285,000.
That is, Locally produced = 43.8 percent of the cost of imported.
Hence the @FMWHNIG bitumen policy that FEC approved recently.
That is, Locally produced = 43.8 percent of the cost of imported.
Hence the @FMWHNIG bitumen policy that FEC approved recently.
“Nigeria has an estimated 38 billion barrels of bitumen reserve and extra heavy oils that have remained untapped for years across the country but especially in Ondo, Lagos and Edo States.” — @FMWHNIG
So Kaduna Refinery & Petrochemical Co. has the capacity to locally produce all of Nigeria’s current bitumen consumption requirements. It’s however not currently producing. So that needs to change.
There’s of course room for other investors too. @FMWHNIG pledging support.
There’s of course room for other investors too. @FMWHNIG pledging support.
“We are also promoting the use of more cement, stones, and rocks in road construction”, — HM @tundefashola.
Says @FMWHNIG developing a design manual of rock and stone used in road construction in Nigeria.
Says @FMWHNIG developing a design manual of rock and stone used in road construction in Nigeria.
“So, we expect the Nigerian entrepreneurial community to now respond to all of the existing government policies for setting up businesses and embracing this policy as part of ways to develop our made-in-Nigeria capacity,” — @tundefashola
