National Extractives dialogue begins Sept 14

Spaces for Change (S4C) will host the second edition of the National Extractives Dialogue (NED) on September 14 and 15, 2023, in Owerri, Imo State.

NED2023 will set the stage for an inclusive and transformative discussion on the responsible management of oil, gas, and mineral resources in the West African sub-region.

Organised in collaboration with the Nigerian Extractive Industries Transparency Initiative (NEITI), this edition will bring together over 200 stakeholders from diverse backgrounds, including policymakers, regulators, extractive industry players, academia, media, civil society organisations, and the host communities.

The theme, “Host Community Development Trusts: Catalysts for Equitable Benefit Sharing and Sustainable Prosperity for All,” reflects the urgent need to harness the potential of Host Community Development Trusts (HCDTs) established under the Petroleum Industry Act (PIA). These trusts aim at bridging the gap between natural resource wealth and the well-being of host communities.

The Executive Director of S4C, Victoria Ibezim-Ohaeri, said the NED2023 theme could not be more timely, as oil corporations are currently in the process of setting up HCDTs.

According to her, host communities should not be reduced to mere spectators in the administration of the development trusts.