Senate probes N2bn hydro-power producing areas fund

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The Senate, Tuesday, mandated its committees on Power and Public Accounts to probe amounts running into over N2 billion, including interest accrued, and collected on behalf of the Hydroelectric Power Producing Areas Development Commission (HYPPADEC), The Sun reports.

Accordingly, the red chamber mandated the relevant committees to invite the leadership of the National Electricity Regulatory Commission (NERC), the relevant Distribution Companies (DISCOS) and Generation Companies (GENCOs), including the Ministry of Power, Works and Housing to establish the status of the commission’s funds.

These were fallouts of resolutions reached by the Senate sequel to consideration of a motion on funds accruing to HYPPADEC, and sponsored by Senator David Umaru (APC – Niger East). The HYPPADEC Act, 2010, established the commission to among other reasons conceive, plan and implement projects for the development of hydroelectric power producing areas.