NUPRC Inaugurates PML66 Board, 163 Trusts Established

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) announced the incorporation of 163 Host Communities Development Trusts (HCDTs) nationwide under the Petroleum Industry Act (PIA). This was revealed during the inauguration of the Board of Trustees (BoT) for Petroleum Mining License (PML) 66 by Ingentia Energies Limited in Port Harcourt.

Kingsley Ehiaguina, Assistant Director at NUPRC, stated that billions of naira have been remitted to HCDTs, with over 1,100 development projects ongoing and more than 200 projects commissioned in the Niger Delta. Ehiaguina emphasized that the HCDT framework is transformative, allowing host communities to determine their development priorities.

He urged the newly inaugurated trustees to ensure transparency and accountability. Charles Odita, Managing Director of Ingentia Energies Limited, described the inauguration as a milestone in strengthening community relations and stated that the trust would enhance development by allowing communities to decide on the utilization of funds from a statutory three percent contribution.