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2018 Budget: Ondo Bitumen Exploration Gets FG Attention | The Precision

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Bitumen exploration in Ondo state may soon become a reality, as Nigeria’s President, Muhammadu Buhari has expressed the readiness of the federal government to support the project. 

The president made this known on Tuesday when he formally presented the N8.6 trillion 2018 budget to a joint session of the National Assembly exchange rate of N305 to $1, a real Gross Domestic Growth of 3.5 percent and an inflation rate of 12.4 percent.

“In Ondo state for instance, work is ongoing to fully exploit the bitumen resources to meet the 6,000,000 MTs of asphalt imported per annum for roads and other construction projects.

“Work is ongoing to explore the bitumen deposits in the state towards the economic development of the country,” Buhari said. 

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