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Oil firms gave ₦97B, $149M to host communities — NUPRC
Oil Communities Get ₦97B, $149M Boost – NUPRC
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has confirmed that oil companies have remitted over ₦97 billion and $149 million to Host Community Development Trusts (HCDTs) as of May 19.
Speaking in Abuja, NUPRC’s Chidinma Nwabueze revealed that 102 HCDTs have already received funds, with some completing major projects. In just three years, 67 projects were commissioned in Bayelsa, with more underway in Rivers.
Under the Petroleum Industry Act, oil firms must contribute 3% of their previous year’s operating expenses to host communities. These funds go into infrastructure, investments, and community development.
So far, 146 HCDTs have been fully incorporated, with 167 applications approved. Nwabueze emphasized the initiative’s role in reducing unrest, driving local development, and strengthening relationships between oil firms and communities.
To monitor progress, NUPRC launched HostComply, a digital tool for tracking projects and ensuring transparency.
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