Reps deepen consultations on bill to boost South-South development commission funding

The House of Representatives Committee on the South-South Development Commission is actively engaging stakeholders to refine a proposed amendment to the commission's establishment act. The legislative effort aims to bolster the funding framework, thereby accelerating development across Nigeria's South-South region.

Committee Chairman Rep. Julius Pondi explained that the public hearing was reconvened to accommodate key stakeholders, particularly from the oil and gas industry, who missed the initial session due to the Nigerian Oil and Gas (NOG) Conference. He emphasized the importance of their input, given the sector's strategic role and the proposed amendment's focus on funding mechanisms.

Pondi highlighted the House's commitment to transparent and inclusive lawmaking, noting that public hearings are crucial for shaping legislation through constructive engagement with government agencies, industry players, civil society, and host communities. The amendment seeks to broaden funding sources to enable the commission to effectively drive sustainable development, addressing persistent challenges like poor infrastructure and environmental degradation in the region.

While the committee assures that all submissions will be thoroughly reviewed to produce equitable and practical legislation, stakeholders from the petroleum sector have voiced concerns. Specifically, they are hesitant about a provision that would require oil and gas companies operating in the South-South to contribute three percent of their annual revenue, indicating potential disagreements over the proposed funding model's sustainability and implications.

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We are particularly interested in receiving constructive contributions on the proposed funding framework, its sustainability, its implications for government and industry, as well as alternative proposals that can further strengthen the objectives of the legislation.