INGENTIA Energies inaugurates PML 66 HCDT board, pledges transparency

INGENTIA Energies Limited has officially inaugurated the PML 66 Host Communities Development Trust (HCDT) Board, a move Managing Director Charles Odita stated will significantly accelerate development initiatives in the company's operational areas. The inauguration in Port Harcourt marks the culmination of extensive stakeholder and community consultations.

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The inauguration of the PML 66 Host Communities Development Trust (HCDT) Board will significantly accelerate development in the company’s host communities.

The trust operates under the Petroleum Industry Act (PIA), which mandates oil and gas operators to contribute three percent of their prior year's operating expenditure to their respective HCDTs. These funds are intended to be managed by community representatives to implement priority projects aligned with local development needs. Odita expressed confidence that this structure will strengthen company-community relations and foster sustainable development.

Kingsley Ehiaguina, Assistant Director of Host Community Development and Affairs at the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), highlighted the significant impact of the PIA framework. He reported that 163 HCDTs have been established nationwide, with billions of naira allocated to community development. Over 1,100 projects are currently underway in the Niger Delta, and more than 200 have been completed.

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163 host community development trusts have been incorporated under the PIA, with billions of naira committed to community development.

Ehiaguina commended INGENTIA Energies for its compliance and urged the newly formed PML 66 board to prioritize transparency, accountability, and good governance. The Lead Consultant for the trust, Godwin Minima, confirmed that a five-year community development plan has been established based on thorough needs assessments involving various community stakeholders. He anticipates project implementation to begin within two to three months, noting that the trust account has already been funded.

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The inauguration marked the full operationalisation of the governance structure required under the PIA.

Sunday Jonathan, the newly elected Chairman of the Board of Trustees, pledged transparent and selfless leadership, assuring the host communities that all resources would be dedicated to welfare-improving projects. He described his election as a "sacred trust" and appealed to INGENTIA Energies for continued support beyond the PIA's statutory requirements.

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The available resources would be used solely for projects that improve their welfare.