By Solomon OKPO.
Abuja, In a major step towards ensuring oil-producing communities receive their fair share of industry proceeds, Spaces for Change and the Nigeria Extractive Industries Transparency Initiative (NEITI) have officially launched a report titled “Giving Host Communities Their Dues.” The report highlights the implementation of the Petroleum Industry Act (PIA) 2021, which mandates oil and gas companies to contribute 3% of their annual operating expenditure to Host Community Development Trusts.
The event, held at NEITI House in Abuja, was graced by key stakeholders in the oil and gas sector, including the Executive Secretary of NEITI, Dr. Ogbonnaya Orji; representatives of Chevron; Host Community Development Trusts from Akwa Ibom, Imo, and Delta States; and officials from Spaces for Change.
Representing the Chairman of the House of Representatives Committee on Host Communities, Rt. Hon. Dumnamene Dekor, was Rep. Clement Jimbo, Deputy Chairman of the House Committee on National Planning and Economic Development. While unveiling the report before its official launch, Rep. Jimbo commended Spaces for Change for its in-depth research, noting that the findings would play a crucial role in advancing the development of host communities.
He further emphasized the significance of the PIA 2021 provision, stating that the mandatory 3% funding for host communities would drive sustainable transformation, ensuring that those directly impacted by oil exploration benefit from its proceeds.
The report launch underscores a growing commitment to transparency and community development in Nigeria’s extractive industry, as stakeholders push for effective implementation of the PIA to guarantee social and economic progress for host communities.
