The House of Representatives has stripped the South West Development Commission of three percent of the total revenues derived yearly by the airports and seaports in the zone.
It was gathered that the House will transmit the newly amended bill to President Bola Tinubu for assent today.
This was part of the far reaching changes the House made to the commission’s Establishment Act during Wednesday’s plenary, as the House deleted four major clauses from the law.
Specifically, the proposed amendments to the Establishment Act were on Section 14(b, c, d, and e).
The House deleted Clause 14(b), which provided that: “3 percent of the annual budget of any Federal seaport and airport operating in the South West”
It also deleted Clause 14(c), which provided that: “3 percent of the total annual budget of any oil-producing company operating, onshore and offshore, in the South West States: including gas processing companies.”
Also expunged from the Act was Clause 14(d), which provided that: “3 percent of the total annual budget of any solid mineral extracting mining company operating in the South West States.”
Besides, Clause 14(e), which provided that: “50 percent of monies due to member-States of the Commission from the Ecological Fund” was also removed.
The House had given the report on the bill, gazetted for consideration on Tuesday’s Order Paper, an accelerated consideration. The House leadership listed it for consideration on Wednesday’s Order Paper and subsequently reeled out a Supplementary Order Paper, where the bill was gazetted for Third Reading and passed.
The bill seeks to “establish the South West Development Commission charged with the responsibility, among other things, to receive and manage funds from allocation of the Federation Account, including donations and gifts for the reconstruction and rehabilitation of infrastructural damages suffered in the region and to tackle the ecological, environmental and other developmental challenges in the Region and for related matters.”
