Hydroelectric Power Producing Areas Development Commission (Establishment, Etc.) Amendment Act

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HYDROELECTRIC POWER PRODUCING AREAS DEVELOPMENT COMMISSION (ESTABLISHMENT, ETC.) (AMENDMENT) ACT, 2018

EXPLANATORY MEMORANDUM

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

  1. Amendment of Act No 7, 2010
  2. Amendment of section 8.
  3. Amendment of section 14
  4. Citation

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 –

  1. The Hydroelectric power producing areas (Establishment, Etc) Act No 7, 2010 (in this Act     referred to   as “the principal Act”) is amended as set out in this Act.
  1. Section 8 of the principal Act is amended –

(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”

  1. Section 14(2) of the principal Act is amended by substituting for the figures, “30” in line 1, the    figures, “10”
  2. This Act may be cited as the Hydroelectric power producing areas Development commission (establishment e.t.c) amendment) act 2018.

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