The House of Representatives Wednesday stated that the ongoing amendment process to the South-South Development Commission (SSDC) Establishment Act will widen funding sources for the agency.
Chairman of the House Committee on SSDC, Julius Pondi, gave the explanation during a public hearing on the amendment bill in Abuja.
“Specifically, the proposed amendment seeks to introduce additional sources of funding, including contributions from extractive industries, agricultural processing companies, allocations from the Ecological Fund, and a share of Value Added Tax revenues, among others,” he said.
He stated further that the measures were designed “to place the Commission on a stronger and more sustainable financial footing.”
Speaking earlier to open the session, Speaker of the House, Abbas Tajudeen said “the objective is to provide the Commission with a funding structure comparable to those of other regional development commissions.”
