Oil & Gas
THE Managing Director of INGENTIA Energies Limited, Mr Charles Odita, says the inauguration of the PML 66 Host Communities Development Trust Board(HCDT) will accelerate development in host communities.
Odita disclosed this on Thursday in Port Harcourt during the inauguration of the Board of Trustees, describing the event as the culmination of extensive consultations and collaboration among stakeholders and the host communities.
He said the trust would provide a major boost to community development, noting that the Petroleum Industry Act (PIA) mandates oil and gas operators to contribute three per cent of their previous year’s operating expenditure to the HCDT.
According to him, the funds will be managed by representatives of the host communities to implement priority projects that address their development needs.
Odita expressed appreciation to stakeholders and the three host communities for their cooperation, expressing confidence that the trust would strengthen relations between the company and its host communities while promoting sustainable development.
Also speaking, Mr Kingsley Ehiaguina, Assistant Director, Host Community Development and Affairs at the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), said 163 Host Community Development Trusts had been incorporated under the PIA, with billions of naira committed to community development.
Ehiaguina said more than 1,100 projects were ongoing across the Niger Delta, while over 200 had been completed under the HCDT framework.
He commended INGENTIA Energies for complying with the PIA and urged the newly inaugurated board to uphold transparency, accountability and good governance, while ensuring the prompt constitution of the trust’s management and advisory committees.
Earlier, the Lead Consultant to INGENTIA Energy on the PML 66 HCDT, Dr Godwin Minima, said the inauguration marked the full operationalisation of the governance structure required under the PIA.
Minima said extensive consultations and needs assessments involving women, youths, traditional rulers and other stakeholders produced a five-year community development plan to guide the utilisation of the statutory three per cent operating expenditure contribution.
He expressed optimism that implementation of projects would commence within the next two to three months, adding that the trust account had already been opened and funded.
In his acceptance speech, the newly elected Chairman of the Board of Trustees, Mr Sunday Jonathan, pledged transparent and selfless leadership, assuring host communities that available resources would be used solely for projects that improved their welfare.
Jonathan described his election as a sacred trust and appealed to the operating company to continue supporting the communities beyond the statutory requirements of the PIA to deepen sustainable development and peaceful coexistence.
Also, the Community Relations Manager of INGENTIA Energy, Mr Emmanuel Toby, reaffirmed the company’s commitment to sustainable development and stronger partnerships with its host communities.
Toby attributed the successful establishment of the trust to months of collaboration among INGENTIA Energy, the NUPRC, traditional institutions and host communities, urging the board to discharge its responsibilities with integrity, transparency and accountability.
The Board of Trustees (BOT) members are Mr Sunday Jonathan (Chairman), Mrs Peace Goodluck, Mr Kenoye Willie, Mr Otaraku Jonathan, Mr Ipeghan Charles, Mr Edum Gardner, and Mrs Ogbolauma Ilodeipe, who will serve as Secretary of the Board.
The event featured the presentation of awards of excellence to INGENTIA Energies, the NUPRC and Godifem Consult Ltd. in recognition of their contributions to the development of Nigeria’s oil and gas sector. (NAN)
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Tags: Ingentia PML transparency