NUPRC disburses N200bn to 137 host community trusts for 198 projects

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has disbursed a total of N200bn to 137 Host Community Trusts for the execution of 198 projects. This was disclosed on Tuesday in a statement aimed at clarifying the alleged delays in funding development projects in host communities in Ibeno, Mbo and Esit Eket communities of Akwa Ibom […]

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has disbursed a total of N200bn to 137 Host Community Trusts for the execution of 198 projects.

This was disclosed on Tuesday in a statement aimed at clarifying the alleged delays in funding development projects in host communities in Ibeno, Mbo and Esit Eket communities of Akwa Ibom State.

Denying allegation that the NUPRC is frustrating the funding of projects across host communities, the regulator said it is fully committed to the implementation of the Host Community Development Trust (HCDT) in line with Chapter 3 of the Petroleum Industry Act (PIA, 2021).

The NUPRC said the HCDT has been designed to ensure the objectives of fostering sustainable prosperity within the host communities as well as the provision of direct social and economic benefits from petroleum operations to host communities are well achieved.

“It is worth mentioning that NUPRC has diligently superintended the incorporation process which has resulted in the full incorporation of one hundred and thirty-seven (137) HCDTs with over N200bn disbursed. 198 developmental projects are going on across host communities, Akwa Ibom communities inclusive. Some yet-to-be-funded Trusts are undergoing due diligence and various validation processes. “

The NUPRC clarified that the Ibeno, Mbo and Esit Eket communities are part of the beneficiaries of the N200bn released to host communities.