In the Electric Power Sector Reform Act Bill 2018 before the House, host communities will be entitled to five per cent of the revenue generated by all generating companies .
Benson said, “It is meant to legislate that host communities like Egbin, that generates electricity, should be entitled to a percentage of the profit from generating companies. What they are entitled at the moment is merely corporate social responsibility and this is at the discretion of GENCOs. The law is to compel them to earmark a percentage for community development.
“ The revenue referred to in Subsection 2 of this section shall be received, managed and administered by a trustee to be appointed by the GENCOs and representative of the host communities, upon agreement between the host communities and GENCOs on one part and the trustee on the other part.”
while this is what should be. But oil bearing communities are not entitled to even 1 kobo?
Double wahala for deadbody
Yet another tax on production designed to fund consumption. Nigeria is very good at making laws to collect free money. Same money that will end up in few pockets.
Very well but let it not be diverted to private pockets, let it get to the actual receiver, i.e the host community
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