RMAFC Orders NUPRC to Dissolve Host Community Trust

The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) has directed the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) to dissolve a disputed Host Community Development Trust within 48 hours. This directive follows an investigative hearing into the operations of Sterling Oil Exploration and Energy Production Company (SEEPCO) and the implementation of the Host Community Development Trust provisions of the Petroleum Industry Act.

The ultimatum was issued during a hearing led by RMAFC's Investment Monitoring Committee, which raised concerns about the trust's establishment for affected host communities. RMAFC Chairman Mohammed Shehu emphasized the commission's commitment to protecting the interests of oil-producing communities and ensuring they receive benefits under the law.

Ekene Enefe, the committee chairman and Federal Commissioner representing Anambra State, criticized SEEPCO for failing to attend previous hearings and stressed that host communities should not bear the environmental and social consequences of oil exploration without corresponding development.