Reps Step Down Bill For 50% Increase Of Derivation Fund …C0NTINUE READING HERE >>>
The House of Representatives has stepped down a bill to increase derivation funds for states with mineral resources from not less than 13 per cent to at least 50 per cent.
The bill, sponsored by Hon. Awaji-Inombek Abiante (PDP, Rivers) and eight others, seeks to alter Section 162(2) of the 1999 Constitution (as amended).
The bill was listed for second at plenary on Wednesday, but after the debate, it was stepped down by leave of the House until another legislative date so that lawmakers could study the proposed legislation’s aim.
Abiante, in a legislative brief, noted that the 13 per…
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