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This Act amends the Hydroelectric Power Producing Areas Development Commission (Establishment, Etc) Act No 7, 2010 by reducing the percentage from 30% to 10%, on the total revenue deductible from revenue generated by any company or authority from the operations of any hydroelectric dam, in any member state of the commission.
HYDROELECTRIC POWER PRODUCING AREAS DEVELOPMENT COMMISSION (ESTABLISHMENT, ETC) (AMENDMENT) ACT, 2018
ARRANGEMENT OF SECTIONS
HYDROELECTRIC POWER PRODUCING AREAS DEVELOPMENT COMMISSION (ESTABLISHMENT, ETC.) (AMENDMENT) ACT, 2018
An Act to amend the hydroelectric power producing Areas Development Commission Act No. 7, 2010 to reduce the percentage on revenue generated by any company or authority from the operation of hydroelectric dams; and for related matters.
ENACTED by the National Assembly of the Federal Republic of Nigeria –
(a) by substituting for paragraph (a), a new paragraph “(a)” –
(a) formula policies and guidelines for the development of hydroelectric power producing areas without prejudice to the powers of the Minister to issue policy directives and the Nigerian Electricity Regulatory Commission’s power to regulate the electricity supply industry under the Electric Power Sector Reform Act, and
(b) By inserting after the word, “of”, in line 2, the word, “measures”