NUPRC Registers 172 Host Communities Trusts Amid Efforts to Boost Oil Production

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has registered 172 Host Communities Development Trusts (HCDTs), aiming to promote peace, development, and increased oil production in host communities.

NUPRC Chief Executive, Mrs. Oritsemeyiwa Eyesan, stated that the commission had been enforcing the provisions of the Petroleum Industry Act (PIA) regarding host communities and oil companies' obligations.

The PIA requires oil and gas companies to contribute 3% of their operating expenditure (OPEX) to a Host Communities Trust Fund for the benefit of their host communities.

Eyesan noted that the HCDTs have funded infrastructure projects, such as schools and hospitals, contributing significantly to peace and stability in previously volatile communities.