Oil and gas host communities in the country have thrown their weight behind the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) over the creation of
The platform is an app created by the upstream regulator to monitor and ensure transparency in the execution of funds in the host communities development trust funds.
“The HostComply is an app that will be managed by the regulators to checkmate both operators and the regulators and the host communities development trust, to know what is happening there, to monitor compliance of operators in remitting the funds and to know what the projects are meant for.
“It is not a hidden fact that our communities producing oil and gas in the country have been suffering devastation, deprivations and desecration of all sorts due to the activities of some critical stakeholders who short-change and create divide-and-rule systems to flourish. The Host Communities Development Trust was deliberately created to address the concerns of the host communities and stop the activities of the Shylock’s and their collaborators.
According to him, for over two years of the enactment of 2021 PIA, the settlors seats comfortable up till date only 76 Development Trusts has been registered, and only 45 accounts has been created and only 38 accounts has been funded and more than 100 Development Trusts yet not registered with Corporate Affairs Commission what an irony is this, and it was even after the pronouncement of NUPRCs revocation of Licenses notice last month September 2023 that prompted this number.
corporate body under the Companies and Allied Matters Act in the manner provided under this Chapter”. Reserve Fund Manager Module: Enable the annual registration of the fund managers with the Commission. Allow for the monitoring of the management of the Reserve Fund.
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