Host Communities Development Trust
In compliance with the Petroleum Industry Act 2021 mandate, the NNPC/FIRST E&P OML83 & 85 Joint Venture inaugurated a Development Trust for its host communities
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Host Communities Development Trust
In compliance with the Petroleum Industry Act 2021 mandate, the NNPC/FIRST E&P OML83 & 85 Joint Venture inaugurated a Development Trust for its host communities on Friday, September 22, 2023, at the Golden Tulip Hotel in Yenagoa, Bayelsa State.
The Trust, named ‘KEFFESO Host Communities Development Trust’ (KHCDT), is a not-for- profit and non-political organization which will be governed by a constitution. In support of its activities, the NNPC/FIRST E&P JV will contribute 3% of its actual operating expenditure in the upstream petroleum operations each preceding calendar year to a fund established by the Trust. The KHCDT will cater to the socio-economic needs of 11 communities in Bayelsa state, including Koluama 1, Koluama 2, Ekeni.
The establishment of the Trust was done in full compliance with the requirements of chapter three of the Petroleum Industry Act (PIA), which mandates the incorporation of a Host Communities Development Trust to aid the development of the socio-economic infrastructure of the communities within the petroleum mining lease. Also in adherence with the Act 2021, the scope of coverage for the joint venture’s social performance expanded from the initial eight host communities to include three new communities in Bayelsa State – Opu Okumbiri, Okumbiribeleu and Oginibri.
Among other responsibilities, the KHCDT will implement the KEFFESO host communities’ development plan while efficiently and competently managing its assets and funds. Key areas in which the trustees will serve range from undertaking infrastructural development, facilitating economic empowerment opportunities to advancing and propagating educational development and supporting healthcare development for the KEFFESO host communities.
The nine members of the board of trustees of the KHCDT were chosen using strict criteria such as evidence of past commitment to the development of their communities and educational qualifications.