NASS strips South-West development commission of 3% seaports, airport revenues

The House of Representatives during Wednesday’s plenary made far-reaching changes to the South West Development Commission by deleting four major clauses from its Establishment Act.

The report on the bill, which was gazetted for consideration on Tuesday’s Order Paper, was given accelerated consideration as the leadership of the House 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.”

The proposed amendments to the Establishment Act were on Section 14(b, c, d, and e).

Clause 14(b), which provided that: “3 percent of the annual budget of any Federal seaport and airport operating in the South West,” was deleted.

Similarly, 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,” was deleted.

In the same vein, 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,” was expunged.

Finally, Clause 14(e), which provided that: “50 percent of monies due to member-States of the Commission from the Ecological Fund,” was deleted.

Our correspondent exclusively gathered that the newly amended bill will be transmitted to President Bola Tinubu for assent today.