Bitumen License was granted to Lakel Afrik Petroleum Ltd in Nigeria on the 12th of October 2018 to develop the area into a Bitumen production mine.
Nigeria’s bitumen, also known as oil sands, has not yet been exploited, but is a potential source of future revenue for Nigeria, Geologists and engineers predict that Nigeria would use similar methods to extract bitumen as Canada, as the reserves are geologically similar.
Bitumen is typically found surrounding sand grains encased in water and clay, which is where it gets its alternative name, oil sands.Bitumen Exploitation is a priority for the Nigerian Government in view of its strategic importance to Nigeria’s economy, and the sufﬁcient quantities that are available to sustain mining operations for years to come.The community where this project is to be undertaken falls within Okitipupa-Irele-Odigbo Local Government Areas of Ondo State (Lat. 7° 10’ 00’’ North; Long. 5° 05’ 00’’ East) which is located in Block B of the bitumen belt of Nigeria, which is said to poses the third largest de- posits of Bitumen in the world.