Blessing Ibunge in Port Harcourt
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) yesterday revealed that not less than 163 Host Communities Development Trusts (HCDTs) had been incorporated nationwide under the Petroleum Industry Act (PIA).
The commission stated that billions of naira had already been remitted to their accounts, with over 1,100 development projects ongoing and more than 200 projects commissioned across the Niger Delta.
The development was disclosed during the inauguration of the Board of Trustees (BoT) of Petroleum Mining License (PML) 66 HCDT by Ingentia Energies Limited in Port Harcourt.
Speaking at the event, Assistant Director, Host Communities Development and Administration at NUPRC, Kingsley Ehiaguina, described the HCDT framework as one of the most transformative provisions of PIA, saying it has begun to change the development narrative of oil-bearing communities.
