As the House of Representatives resumed from its Christmas and New Year break, its Committee of Petroleum Resources (Downstream) will commence investigation into the alleged loss of over N300billion revenue in Bitumen.
The House had ordered the committee to carry out the investigation before it adjourned plenary on December 22, 2015.
It also ordered the committee to ascertain whether there was need for construction companies to keep on importing bitumen for construction works against the locally produced ones.
The lower chamber said it would also ascertain the level of production and utilization of this product in Nigeria.
The resolution had followed a motion sponsored by Hon. Bede Uchenna Eke representing Aboh Mbaise/Ngor Okpala Federal Constituency of Imo State on the floor of the House.
In his lead debate, Ekeh pointed out that over the years, some construction companies and businessmen had engaged in massive importation of bitumen to the detriment of bitumen produced locally by the Kaduna Refinery and Petrochemical Company, KRPC.
He explained that KPRC had an installed capacity to produce about 5,000 tonnes of bitumen annually in the country.
The lawmaker hinted that Nigeria looses over N300 billion as a result of the non-patronage by construction companies of the bitumen produced in Nigeria and therefore depend heavily on importation of the product to the detriment of the nation’s economy.
Ekeh informed the House that if local production and utilization of bitumen was encouraged, it would boost the nation’s economy and prevent the wastage of foreign exchange on the importation of the product.
In its resolution, the House mandated its Committee of Petroleum Resources (Downstream) to investigate the level of bitumen production in Nigeria, especially by the KRPC and report back in eight weeks for further legislative inputs.

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