Billionaire Business mogul, Dr Jimoh Ibrahim, says the exploration of the large deposits of bitumen in Agbabu town, Odigbo Local Government Area (LGA) of Ondo State, will boost Nigeria’s economy.
Ibrahim, All Progressives Congress (APC) Senatorial Candidate for Ondo South, ahead 2023 General Elections also described bitumen as an alternative source of foreign exchange revenue generation for the Federal Government.
The APC stalwart stated this on Wednesday while addressing residents of Agbabu community during his ward-to-ward familiarisation tour ahead 2023 general elections.
Ibrahim visited constituents in Ebijo, Oniseere, Agbabu and Ajue wards in Odigbo LGA.
Ibrahim said that bitumen had remained untapped for a long time because it was a capital project which might gulp two times Nigeria’s budget, for it to be refined as an export product.
Ibrahim said that the exploration of bitumen needed government’s intervention in collaboration with foreign experts who would cite the refinery in Agbabu town, which in turn would generate employment and foreign exchange.
He, however, assured residents of Agbabu community of using his influence to push for the exploration of the product to the benefit of the host community, if voted for in the 2023 elections.
“The bitumen you have here is the second largest in the world.
“It’s an alternative source of foreign exchange to crude oil, which if exploited will help boost Nigeria’s economy.
“But exploring the natural resources might gulp two times Nigeria’s budget except the government involves foreign experts who will build the refinery for it to be a refined product to be exported.
“If you elect me as your senator next year, I will take appropriate steps to ensure the exploration of bitumen which will generate employment for our youths as well as develop the community and the country at large,” Ibrahim said.
He, however, urged residents of the community to be patient with government, law abiding and live in peaceful co-existence for them to benefit from the dividends of democracy.
Ibrahim, who promised to visit the 66 wards in Ondo South, in his ward-to-ward familiarisation tour, has so far visited all the 10 wards in Ile Oluji and Oke-Igbo communities in Ile Oluji/Oke-Igbo LGA.