The Nigerian National Petroleum Company Limited (NNPCL) has reaffirmed its commitment to ensuring the effective utilisation of funds allocated under the Petroleum Industry Act (PIA) to foster sustainable development in the Niger Delta region.

The company made this commitment during a stakeholder engagement session with the KEFFESO Host Communities Development Trust (HCDT), a cluster of host communities that includes Koluama 1 and 2, Ezetu 1 and 2, Foropa, Fish Town, Ekeni, Sangana, OpuOkumbiri, Okumbiribeleu, and Oginibiri in Bayelsa State. The session was held under the NNPC Limited/FIRST Exploration & Petroleum Development Company (FIRST E&P) Joint Venture (JV) in Yenagoa, Bayelsa State.

Chief Upstream Investment Officer of NNPC Limited, Seyi Omotowa, reaffirmed the company’s commitment to ensuring that funds allocated for host community development under the PIA are directed toward essential projects, including education, healthcare, and infrastructure.

Omotowa, represented by the Deputy Manager of External Relations at NUIMS, Mrs. Edith Lawson, emphasised that collaboration among stakeholders is crucial for achieving sustainable socio-economic development.

In his remarks, the Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, commended the NNPC Ltd/FIRST E&P JV for maintaining its strategic partnership with KEFFESO HCDT. He also encouraged community leaders to collaborate in fostering peace and stability within their communities.

He emphasised that without peace, companies would face operational challenges, which could, in turn, affect the implementation of the three per cent host community fund allocated under the PIA for development initiatives.

The Executive Commissioner of safety, Environment, and Community at the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Captain John Tonlagha, who represented the Chief Executive Officer, Gbenga Komolafe, commended the institutionalisation of the community development trust initiative.

He described it as a pivotal moment in Nigeria’s petroleum sector, introducing essential governance, transparency, and accountability in community development efforts.

The Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Mr Felix Omatsola Ogbe, represented by the Board’s Director of Legal Services, Naboth Onyesoh, commended the KEFFESO HCDT for its dedication to fostering sustainable development under the PIA framework. He also commended the NUPRC for successfully incorporating over 100 Host Community Development Trusts (HCDTs) to enhance socio-economic growth in the region.