Abuja, Oct 21, 2016 – The Senate on Thursday, October 20, passed the North East Development Commission (NEDC) bill.
When accented to, the commission will be used to develop the North Eastern region ravaged by menace of the Boko Haram terrorist sect.
According to the bill, the NEDC will be funded by 3 percent of Valued Added Tax(VAT) collected by the Federal Government in the next 10 years.
The report on the commission was tabled before the Senate by Murtala Nyako (APC-Adamawa), chairman of the committee on special duties.
While ruling on the bill, President of the Senate, Dr. Bukola Saraki, said, with the commission, he hopes that Nigerians can collaborate and address humanitarian crisis and challenges in the North East.
The Senate will now transfer the bill to the House of Representatives for concurrence before forwarding it to President Muhammadu Buhari for assent.
If it scales through, the commission will have its headquarters in Borno State, worst hit by Boko Haram terrorism.
“I am truly elated at the passing of the NEDC bill today by the 8th Assembly of the Federation. Today marks the beginning of a new future for the North East and the vision of its restoration shall now soon be a reality,” Nyako said.
