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 PRODUCIN 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 No7, 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 –

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