Senate reviews N/East Development Commission funding

The Senate yesterday reviewed the funding of the proposed North East Development Commission (NEDC), following observation by the Presidency.

The National Assembly had on the 12th January; transmitted the bill to the president for assent.

However Presidency assent observation issues bordering the withheld following on on Constitution.

Senate Leader, Senator Ahmad Lawan yesterday sponsored a motion for amendment of 17 items on the North East Development Commission (establishment, etc) Bill, 2017.

Lawan said the National Assembly withdrew the Bill on 7th February after some issues bordering on Constitutional prescriptions were observed.

Key areas amended include the provision of funding the commission. The contribution of member states was slashed from15 per cent to 10 per cent of the total monthly statutory allocations from the Federation Account.

Also, the 25 per cent proposal of the ecological fund due to member states that was earlier proposed for the commission has been reduced to10 per cent for a period of 10 years.

The 3 per cent of the Value Added Tax (VAT) proposed for the to commission will only be for 10 years. The section has been amended to read, “A sum equivalent to 3 percent of the annual VAT collection, as first line charge, to accrue to the commission for a period of 10 years, notwithstanding the provisions of any other law.”

Senate President Bukola Saraki stressed the need for the establishment of the commission to galvanize resources for rebuilding the Northeast.