House of Reps Moves to Boost SSDC Funding in Nigeria

On Wednesday, the House of Representatives commenced consideration of a bill aimed at significantly expanding the funding base for the South South Development Commission (SSDC). The proposed amendments to the South South Development Commission Establishment Act of 2025, introduced by Speaker Tajudeen Abba, seek to enhance the financial framework of the SSDC by introducing additional statutory sources of funding.

These include contributions from extractive industries and agricultural processing companies, as well as allocations from ecological funds and value-added tax revenues. The bill aims to strengthen the SSDC's capacity to address the development challenges faced by the South South region, which, despite being a major contributor to Nigeria's oil and gas sector, continues to grapple with environmental degradation, infrastructure deficits, and high youth unemployment.

The House plans to hold public hearings to ensure stakeholder engagement and transparency in the legislative process.