News hotlines: 08111813019, 08025868561
Email: email@example.com, firstname.lastname@example.org
The Hydroelectric Power Producing Areas Development Commission, a body comprising host communities of hydropower plants, on Wednesday met the Bureau of Public Enterprises to demand 10 per cent royalty payment from the concession of the plants. Managing Director, HYPPADEC, Abubakar Yelwa, said the visit of his team to the BPE was to find ways to get the 10 per cent royalty as enshrined in the organisation’s statute. He said the royalty would be deployed by the commission in the development of host communities where the hydro plants were located. Yelwa in a statement issued in Abuja by the Head, Public Communications, BPE, Amina Othman, identified the bureau as the agency that supervised the concession of the hydropower plants. He stressed that the visit was necessary in order for both parties to mutually agree on the way forward on the royalty issue as mere correspondences on the matter would not suffice. Yelwa called for a tripartite meeting involving the BPE, HYPPADEC and the power generation companies to agree on the way forward on the matter.
Business Hilights is an online news channel conceptualized and structured to report and track on a daily basis; latest developments in critical business sectors to serve as a one stop news gateway for governments, foreign and indigenous investors.