The Federal Government of Nigeria has been commended by indigenes of Ogoloma and Koniama communities in Okrika Local Government Area of Rivers State for mandating oil companies to establish Host Community Development Trusts (HCDTs) as part of their operations. This move is in line with the Petroleum Industry Act (PIA), which aims to ensure shared prosperity among stakeholders in the oil and gas sector.
The commendation came during the inauguration of the HCDT for Dawes-Island communities by Petralon 54, an indigenous oil exploration and production company. Petralon 54 is the sole operator of the Dawes-Island Field, which includes Ogoloma and Koniama communities. The company’s decision to set up the HCDT is seen as a significant step towards promoting sustainable development and peaceful coexistence between the host communities and the oil company.
According to Chief Miebaka Tamunopekerebia, Chairman of the Board of Trustees of Ogoloma Host Community Development Trust, the HCDT will provide a platform for amicable resolution of conflicts and ensure that all stakeholders enjoy mutual prosperity. He noted that the PIA mandates oil companies to establish HCDTs to address the needs of oil-bearing and impacted communities.
Similarly, Chief Chris Biriowu, Chairman of the Board of Trustees of Koniama HCDT, described the HCDT as a platform for community empowerment and development. He commended Petralon 54 for its commitment to the wellbeing of the people of Okochiri and Koniju communities.
The inauguration ceremony was attended by representatives of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), the Ministry of Chieftaincy and Community Affairs, and traditional rulers from the host communities. The event marked a significant milestone in the company’s efforts to promote community growth, development, and harmony.
The HCDT is designed to ensure that the benefits of oil and gas operations are visible, measurable, and sustainable at the grassroots level. The trust will be managed by a board of trustees comprising representatives from the host communities, the oil company, and regulatory agencies.
The establishment of the HCDT is a positive step towards promoting community development and peaceful coexistence in the oil-producing regions of Nigeria. It is expected to serve as a model for other oil companies operating in the country to follow. With the HCDT in place, the host communities can look forward to enjoying the benefits of oil and gas operations, while the oil company can operate in a peaceful and sustainable environment.