Oil & Gas
THE Host Communities of Nigeria Producing Oil and Gas (HOSTCOM) says some delays in Host Community Development Trust (HCDT) Fund creation and implementation are caused by community members and litigations.
The HOSTCOM said pending issues by host communities in choosing members and chairman of the Board of Trustees (BoT) delayed the implementation of the HCDT funds.
Dr Benjamin Tamaranebi, National President, HOSTCOM, disclosed this to newsmen on Thursday in Abuja while making clarifications on recent claims on the Host Community Project Funding in Akwa Ibom.
The News Agency of Nigeria (NAN) reports that HCDTs are responsible for managing and distributing oil company funds to the host communities, ensuring that resources are used effectively for community development projects.
Host communities in Akwa Ibom had expressed frustration over the delayed release of funds by oil companies to HCDT which it said hindered the implementation of projects outlined in their respective development plans.
Community representatives from HCDTs in Ibeno, Eket, Mbo, Esit Eket, Uruan and Ikot Abasi LGAs claimed that the Nigerian Upstream Petroleum Regulatory Commission’s (NUPRC) failed to enforce statutory sanctions on oil companies that delay funds.
Tamaranebi, who condemned the recent publication regarding alleged delays in funding development projects in host communities in the state, urged the public to disregard it as it was unfounded.
“We must state clearly that some of the delays of HCDTs creation are caused by community members and litigations over who wants to be a member and chairman of the Board of Trustees which has nothing to do with NUPRC.
“So, we advise communities to conduct themselves properly for the benefit of the HCDT funds,” he said.
He recalled that the NUPRC initiated the HCDTs Forum to meet with community representatives through its HCDT trustees to address broader issues and grievances ensuring continuous dialogue between host communities and the operators.
The national president said the forum had promoted transparency and accountability ensuring that community voices were heard at a higher level.
Tamaranebi said there was registration of reputable 34 asset/fund manager to invest 20 per cent of the three per cent Operating Expenses or Expenditure (OPEX) on behalf of the trusts.
“Some of the trusts are already benefiting from the dividend of this investments.
“These achievements underscore the commitment of the NUPRC and Settlors to the sustainable development of host communities.
“We encourage all stakeholders, including community members and operators, to maintain open lines of communication with the HOSTCOM or NUPRC,” he said.
On concerns regarding funding or implementation of projects, he urged parties to engage with HOSTCOM directly for resolution rather than resorting to public statements that may misinform or escalate tensions.
He added that HOSTCOM was actively monitoring the situation in Akwa Ibom and other states to continue to advocate for the rights and developmental needs of local communities.(NAN)
A.I
Oct. 18, 2024
Tags: Dr Benjamin Tamaranebi HOSTCOM NUPRC
