BY SAM OTUONYE
Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has clarified that some yet-to-be-funded Trusts are undergoing due diligence and various validation processes.
The clarification came in response to a recent publication regarding alleged delays in funding development projects in host communities in Akwa State.
Head, Public Affairs and Corporate communications, Mrs Olaide Shonola, Tuesday, stated that NUPRC was committed to the implementation of the Host Community Development Trust in line with the Commission’s mandate, insisting that the alleged media report was “not only false but unfounded.”
The statement read in part: “We wish to state that the NUPRC is fully committed to the implementation of the Host Community Development Trust in line with Chapter 3 of the Petroleum Industry Act (PIA, 2021), to ensure the objectives of fostering sustainable prosperity within the host communities as well as the provision of direct social and economic benefits from petroleum operations to host communities are well achieved.
“The Commission has been working assiduously to ensure that all host communities that fall within the ambits of the law benefit from the HCDTF and have established mechanisms to safeguard the funds while ensuring accountability and transparency in the disbursement and management.
“It is worth mentioning that NUPRC has diligently superintended the incorporation process which has resulted in the full incorporation of one hundred and thirty-seven (137) HCDTs with over 200 billion naira disbursed. One hundred and ninety-eight (198) developmental projects are going on across host communities, Akwa Ibom communities inclusive. Some yet-to-be-funded Trusts are undergoing due diligence and various validation processes.
“The Commission reaffirms the commitment and ongoing efforts of the NUPRC in collaboration with the Oil and Gas operators(Settlors) in the region and beyond. We can confirm that the Ibeno, Mbo and Esit Eket communities are well covered in the HCDTs implementation process. Relevant Settlors have established Host Community Development Trusts for these communities, ensuring that funds are released and community development plans are actively underway.
“We encourage all stakeholders, including community members and operators, to maintain open lines of communication with the NUPRC.
For concerns regarding funding or implementation of projects, we urge parties to engage with us directly for resolution rather than resorting to public statements that may misinform or escalate tensions.”