The Chief Executive of Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Gbenga Komolafe, has averred that the implementation of Host Community Provisions under Section 235 of the Petroleum Industry Act 2021 saddled the commission with the responsibility of ensuring conducive and peaceful relationships among stakeholders within the host communities.
Speaking in a document titled; “Nigerian Upstream Petroleum Sector: Value Optimisation, Energy Transition and Regulatory Perspectives,” Komolafe said, this would be done through the implementation of the Host Communities Development Trust.
“The commission, in collaboration with the relevant stakeholders, has developed templates and gazetted regulations, which include that of the Host Community Development Trust.
“The essence of the HCDT is to integrate oil-bearing communities into the value chain and effectively cater for the development needs of impacted communities, thus positively curbing restiveness in such communities and offering an enabling environment for operators to thrive.
“This is expected to guarantee seamless operation, boost investor confidence, and provide an enabling environment for sustainable development of the country’s hydrocarbon resources,” Komolafe stated.
He added that the NUPRC was happy to disclose that over 60 Host Community Development Trusts had been approved by the commission.
“This is indeed a milestone in the implementation of the PIA, 2021,” he stated.
