Nigerian lawmakers have begun the process of creating the South-East Development Commission (SEDC).
The bill for the creation of the commission was re-introduced during the senate plenary on Wednesday.
SEDC, if created, would perform a similar function as the Niger Delta Development Commission (NDDC).
The NDDC was created 19 years ago and has been accused of abandoning several projects in the South-South region of the country.
President Muhammadu Buhari weeks ago called for a forensic investigation of the funding of the NDDC.
According to News Agency of Nigeria, the bill was passed by the 8th Senate but failed to receive presidential assent.
Clause 15 (2a) of the bill which identifies the source of funding for the commission, stipulates that the equivalent of 10 per cent of the total monthly statutory allocation due to the member states of the commission shall be from the federation account.
The bill sponsored by Stella Oduah also seeks the establishment of a governing board for the commission which will include one person for the other geopolitical zones in the country.