The Commission is to have its headquarters in Maiduguri, Borno State and would be partly funded from three percent of the Value Added Tax.
The North East Development Commission is to oversee rebuilding of the region following the devastation caused by the book Haram insurgency.
Other responsibilities of the proposed commission include receiving and managing international donations for the settlement, rehabilitation and reconstruction of roads, houses and business premises of victims of the insurgency.
Also today; the Senate passed a bill amending the Joint Admissions and Matriculation Board Act.
Our correspondent JAMES IGAH reports that in the amendment seeks to strengthened JAMB and to extend the life span of the result issued by the examination body for admission into tertiary institutions to three years.
The bill was passed based on the recommendation by the Senate Committee on Tertiary Education and Tertiary Education Trust Fund.
The report was presented by the Chairman of the committee, Senator JIBRIN BARAU.
In his remarks; Senate President BUKOLA SARAKI, commended members of the Senate Committee on Tertiary Education for their work.
Senator SARAKI also expressed the hope that the amendment would bring financial relief to candidates who are unable to gain admission on their first sitting for JAMB.
The Senate President also said it would reduce the bottlenecks and corruption in the admission process into tertiary institutions in Nigeria.
