NUPRC Inaugurates BOT Forum for Host Community Trust Implementation

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has recently inaugurated the Board of Trustees (BOT) Forum to ensure the smooth administration of the Host Community Development Trust (HCDT) provisions under the Petroleum Industry Act (PIA), 2021.

This initiative aims to promote social inclusion and a peaceful operating environment for the oil industry in host communities.

Engr. Gbenga Komolafe, the Commission Chief Executive (CCE), highlighted the importance of this forum as a one-stop-shop for resolving host community issues and enhancing the implementation of the HCDT provisions.

The Commission has already incorporated 103 Trusts and developed a transparent real-time digital portal, known as HOSTCOMPLY, to facilitate the process.

The key objective of this digital approach is to ensure transparent implementation, a significant improvement from past attempts to implement similar schemes in Nigeria.

The Commission has partnered with an Original Equipment Manufacturer (OEM) to develop the portal, which will be used for incorporation applications, approvals, report submission, and project monitoring.

The forum also serves as a platform for engagement between BOT, settlors, and host communities, allowing for informed discussions and exchange of ideas.

Through this engagement, the HCDT can make decisions that align with the goals and aspirations of the PIA for the Host Community Development Trust.

As of February 22, 2024, 103 Trusts have been fully incorporated, and 52 have been funded.

The Commission hopes that the HCDT will operate within the ambit of the law and deliver tangible results to the communities it serves.

The inauguration of the BOT Forum for the Host Community Trust Implementation is a significant step towards promoting transparency, accountability, and community development in the Nigerian oil industry.