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Senate cuts Power Dams Charge to 10%

By Henry Umoru

Passes NTDA Bill, changes NTDC to NTDA
ABUJA —THE  Senate, yesterday, reduced from 30 per cent to 10, charge imposed on the total revenue generated from the operations of any company or authority, operating hydro-electric dams in any member state.

The decision was sequel to the passage of a Bill to amend the Hydro-Electric Power Producing Areas Development Commission (HYPPADEC) at the Upper Legislative Chamber.

Presenting the report of its Committee on Power, Steel Development and Metallurgy, the chairman, Senator Enyinnaya Abaribe, PDP, Abia South, noted that the Bill was sponsored by former Senate President, David Mark.

He said: “The bill seeks to amend the Hydro-Electric Power Producing Areas Development Commission Act by reducing 30 per cent to 10 per cent being charge/ imposed on the total revenue generated from the operations of any company or authority, operating hydro-electric dams in any member state.”

According to him, the Bill also seeks to validate and give legal backing to the 10 per cent  HYPPADEC charge being deducted from companies operating since the commencement of the principal Act.

Contributing, Senator Adamu Aliero, APC, Kebbi Central, who noted that it was a very simple and straight forward report, said: “The communities have been suffering for quite a long time, the passage of this Bill will facilitate the implementation of HYPPADEC law.”

In his remarks, Senate President, Bukola Saraki, said: “Now that we have passed the Bill, we hope that we will get the assent and the full implementation and takeoff of this commission that is highly required and needed.”

Also yesterday, the Senate passed the Bill for an Act to repeal the Nigerian Tourism Development Corporation, NTDC ACT CAP 137 LFN 2004 and enact the Nigerian Tourism Development Authority, NTDA and for other connected matters thereto, 2017 (SB.429).

The bill was passed after it scaled through the third reading and was  sponsored by Senator Matthew Urhoghide, PDP, Edo South, adding that the very essence of the Bill is to reposition the tourism industry of the country to benefit Nigeria as a country economically, and to encourage partnership with private investors who have interest in developing the nation’s tourism sector.

 

 

 


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