NATIONAL ELECTRIC POWER AUTHORITY ACT

Section 23: Acquisition of undertakings by the Authority in certain circumstances.

1972Section 23 of 45Federal Republic of Nigeria

(1)
If an inquiry instituted by virtue of section 22 of this Act reports that a more efficient service could be operated in the undertaking were it to be handed over to the Authority, the Minister may require such undertaker to sell the undertaking to the Authority upon payment of a fair valuation, and may by order vest such undertaking in the Authority:
Provided that where the undertaking is, at the commencement of this Act, the subject of any deed, agreement or working arrangement between the undertaker and the Minister, such order shall not vest such undertaking in the Authority until after the expiration of such deed, agreement or working arrangement, unless the Authority satisfies the Minister that it is able to operate from its own resources a service more efficient than that maintained by the undertaker.
(2) In the event of any order being made under subsection (1) of this section, any dispute shall be referred to the Minister, whose decision shall be final and binding.
(3) If the decision of the referee should not be accepted by either or both parties, the dispute shall be referred to the Minister, whose decision shall be final and binding.

Cite this section

Section 23, NATIONAL ELECTRIC POWER AUTHORITY ACT (1972).

https://repo.podus.ai/laws/national-electric-power-authority-act/section/23/