By Onyekachi Eze
The 9th House of Imo State Assembly has amended the Markets Development Authority Law No. 33 of 2019.
The amendment was sponsored and presented at the floor of the House yesterday, July 14, 2021, by the Majority Leader, and Member representing Owerri West State Constituency, Hon. Kanayo Dele Onyemaechi.
According to the Majority Leader, the Principal Law was amended by deleting paragraph (b) of Section 18, and renumbering the ensuing paragraphs accordingly.
Adding, Hon. Onyemaechi averred that section 18(b) of the principal Law had stipulated that 3% of the State and Local Government Joint Account be given to the Market Development Authority, to add up to the already 10% deducted from all revenues collected from all the markets in the State.
He disclosed that the said section 18(b) of the old Law was through the amendment passed yesterday by the House expunged the 3% been given to the Authority.
Continuing, the Owerri West representative opined that the Governor of Imo, Hope Uzodinma is determined to work, and ensure that the patrimony belonging to the State is judiciously used.
Supporting the amendment of the bill, the Deputy Speaker and member for Nwangele State Constituency, Rt. Hon. Amara Iwuanyanwu described the bill as apt, adding that the allotted 10% would still serve a great purpose, other than adding another 3%.
Contributing, while addressing House Correspondents, the newly emerged Chief Whip and member representing Nkwerre State Constituency, Rt. Hon. Obinna Okwara explained that the bill remains a working document, except for the section 18(b) which deleted the 3% added to the 10% allocated to the Markets Authority.
Hon. Okwara disclosed that the Market Authority has been functioning since 2019, saddled with the duties of managing and taking care of all markets in Imo State.
He reiterated that the essence of the 10% mapped out for the Authority is to help them with adequate funding of respective markets.
Hon Ngozi Obiefule (Isu) and Hon. Uju Obiefule also okayed the amendment, saying that the reserved 3% would go a long way in other fields.
