Energia Limited and its joint venture partner, Oando Plc, have inaugurated the Board of Trustees of the Ndokwa West-1 Host Community Development Trust and signed a Memorandum of Understanding (MoU) with seven host communities in Delta State to strengthen community development under the Petroleum Industry Act (PIA) 2021.
Key Highlights:
- Energia and Oando sign MoU with seven Delta host communities.
- Ndokwa West-1 Host Community Development Trust officially inaugurated.
- Energia says it has invested over N15.94 billion in host community projects.
- Company commits 3% of annual gross revenue to sustainable community development.
- Delta State Government commends initiative as a model for partnership and transparency.
- NUPRC urges accountability in managing the Host Community Development Trust.
The inauguration ceremony brought together government officials, regulators, traditional rulers, community leaders and oil industry stakeholders, marking the formal take-off of the trust, which is expected to oversee development projects and strengthen relations between the joint venture and its host communities.
Representing the Deputy Governor of Delta State, Sir Monday Onyeme, the Deputy Chief of Staff, Christopher Osakwe, commended Energia and the host communities for implementing the provisions of the Petroleum Industry Act through the establishment of the trust and the signing of the agreement.
Osakwe described the initiative as a model for collaboration and sustainable development, urging members of the newly inaugurated Board of Trustees to discharge their responsibilities with transparency, accountability and fairness.
Read Also:
- Oando confirms 4 operational spills in Bayelsa from Oct 2024
- OANDO abandoned us for years -Irri Community, as Warri sues for peace
- Breaking News: Irri Community storms OANDO Flow Station in protest over marginalization
He also appealed to the host communities to continue protecting oil and gas facilities while embracing dialogue as the preferred means of resolving disputes.
The Managing Director and Chief Executive Officer of Energia Limited, Oladimeji Bashorun, described the inauguration as the beginning of a stronger partnership between the company and its host communities.
According to Bashorun, although the Petroleum Industry Act now provides a legal framework for host community development, Energia had been investing in its host communities long before the law came into effect and has sustained that commitment since achieving first oil in 2009.
He said communities hosting the company’s operations deserve to benefit from the opportunities created by the oil and gas industry, stressing that Energia’s growth is directly linked to the progress and prosperity of its host communities.
Bashorun disclosed that Energia has invested more than N15.94 billion in community development projects, including road construction, drainage systems, healthcare facilities, education, scholarships, youth empowerment programmes, solar-powered streetlights and other social intervention initiatives.
He added that the company also dedicates three per cent of its annual gross revenue to sustainable development projects for host communities, in line with the provisions of the Petroleum Industry Act.
The Asset Manager of Oando Plc, Seyi Fawora, reaffirmed the joint venture’s commitment to implementing the Host Community Development Trust, saying the partnership would further strengthen the relationship between the companies and their host communities.
Representing the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Dennis Eyitemi described the inauguration as a significant milestone in promoting community participation in development and urged members of the Board of Trustees to uphold transparency and accountability in managing the trust.
The Delta State Solicitor-General and Permanent Secretary, Ministry of Justice, Omamuzo Irebe (SAN), commended Energia for exceeding the minimum requirements stipulated under the Petroleum Industry Act and advised the board to manage the trust prudently for the benefit of present and future generations.
The event concluded with the swearing-in of members of the Ndokwa West-1 Host Community Development Trust Board of Trustees, while the board chairman, Chief Godwin Edeme, pledged to work closely with Energia, Oando and all stakeholders to ensure the trust delivers sustainable development and lasting benefits to the seven host communities.
