***Also, for carrying them along

The Host Communities of Nigeria producing oil and gas (HOSTCOM) has commended the Nigerian Upstream Regulatory Commission (NUPRC)’S commitment to the development of the host Communities by ensuring that they were carried along in the completion of the Marginal Field Bid Round and the revoked asset.
The National President HOSTCOM His Highness Dr. Benjamin Style Tamaranebi JP who made the commendation in a statement issued to newsmen on Saturday in Abuja said the important aspect is that Subsequently, the proceeds from the Bid round were made directly to the Federation account, amounting to N265 Billion and USD 18M in line with the core values of the Commission in August 2023 and also in accordance with the provisions of section 7 (1) of the Petroleum Industry Act (PIA) 2021.
The Marginal Fields Bid Round is a program initiated by the Nigerian government to allocate oil blocks to indigenous companies, promoting local participation and development in the sector. The program aims to, Increase oil production, Encourage indigenous participation and Foster economic growth
On the other hand, Revoked Assets refer to oil blocks or licenses that have been withdrawn or revoked from their previous holders, often due to non-performance, non-compliance, or other reasons.
These assets are then re-allocated to new companies through processes like the Marginal Fields Bid Round
The combination of the Marginal Fields Bid Round and Revoked Assets has significant implications for Nigeria’s oil and gas industry, including increased indigenous participation, improved oil production, enhanced economic growth, and encouragement of local content development and redistribution of oil blocks and licenses

Explaining further, Style indicated that the HOSTCOM was not left out in the activities
which were ongoing before the appointment of the present management team of the established Nigerian Upstream Petroleum Regulatory Commission under the leadership of the Commission Chief Executive, Engr Gbenga Komolafe.

According to Style HOSTCOM which is the umbrella body and mouth piece of the grassroots has taken stock of the activities of the Nigerian Upstream Petroleum Regulatory Commission in relation to it’s partnership with – HOSTCOM as contained in the Petroleum Industry Act 2021.
“We also want to use this medium to thank the Commission Chief Executive for the Commission’s consistence in ensuring that the Commission is proactive in every matter pertaining to the Host Communities as contained in section 234 to 257 of the Petroleum Industry Act – PIA 2021.
He said NUPRC under the leadership of Engr. Gbenga Komolafe, has achieved great strides in the Upstream sectors, which are not limited to the engagement of HOSTCOM in most of its stakeholders’ activities beginning from the formulation of the Host Communities Development Regulation No. 114 of 2022.
“Consequently, the Host Communities regulation was unveiled by the former President, His Excellency, President Muhammadu Buhari GCFR and former Federal Minister of State for Petroleum, Chief Timipre Sylva observed by all stakeholders including the Senate Committee Chairman for Host Communities, the House of Reps Committee Chairman for Host Communities and the Host Communities of Nigeria Producing Oil and Gas ably represented by the President of HOSTCOM.
“Again, the Commission has established a building in the South – South specifically Yenagoa BAYELSA STATE to bring closer to the people the settlors and Communities crisis settlement centre which ordinarily use to have its ADR centre in faraway Lagos State before now, for the expeditious settlement of Community cases with the settlors’.
“This is the first of its kind after the discovery of Oil in the early fifties. Within record time, 17 Regulations were developed, 13 gazetted with HOSTCOM Regulations prioritised in phase 1.

“One hundred and twenty two (122) HOSTCOM Host Communities Development Trusts (HCDTs) were set up to implement (3%) three per cent provision as provided in the PIA. Seventy two Trusts have been funded up to the tone of over eighty Billions naira and about one hundred and fifty Million Dollars also been remitted to Host Community’s account and likewise more than fifty HCDT’s yet to be formed.
“NUPRC initiated a partnership with IT companies to develop a digital real-time platform known as HOSTCOMPLY for managing HOSTCOM Provisions for transparency and accountability of HOSTCOM funds between settlors and trustees.
“Sensitisation on PIA HCDT’S Board of Trustees and Secretaries in all affected States is on going and the exercise is conducted by Host Community organization.

“NUPRC has set up a panel to mediate and resolve disputes among HOSTCOM and settlors also established as contained in the Host Communities Development Regulation.
K. NUPRC has cleared the doubt on the issue of divestment and has come up with templates concerning any Company that want to divest must meet up the requirements (a) plan dicommissioning and aboundornment (b) plan on environmental remediation (C) Community investment plan (d) plan to inherit liabilities of divesting Company .
“With a deep sense of responsibility, we have observed with keen interest and observed the transparency demonstrated by the Commission in the conduct and adherence to established protocols and regulations to ensure effective conduct of their practices and accountability.
“Following the reassurances of the Commission to continue to engage the Host Communities of Nigerian Producing Oil and Gas, we rate the score card of the Commission by passing a vote of Confidence on the Nigerian Upstream Petroleum Regulatory Commission and the management team ably led by the Commission Chief Executive, Engr Gbnega Komolafe for an award for its commitment to Petroleum Communities’ sustainable development and protection of their participatory rights.
“With regards to the aforementioned strides of the NUPRC for delivering within record time, we call on all meaningful stakeholders to join hands with the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) to facilitate the speedy implementation of the 3% OPEX which is overdue by the settlors.
“And to those settlors who have refused to set-up the Host Communities Development Board of Trustees to immediately do so.
“To allow the Communities to start enjoying their benefits of sustainable development and participatory rights as contained in the PIA 2021.
“In fact, we call on the NUPRC to List out all the settlors who have refuse to comply with the PIA 2021 or else we will have no choice than to escalate the issue of noncompliance to section 234 of the PIA 2021 and the Host Communities Development Regulation No 114 of 2022 to the President who doubles as Minister of Petroleum Resources for the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to invoke the revocation of their licenses for violating the extant regulatory Laws of Nigeria and protocols of the United Nations Framework Convention on Climate Change (UNFCCC) Clean Development Mechanism (CDM) green house gas (ghg).

He said HOSTCOM will continue to partner with the NUPRC and the present administration to ensure good working relationship with the settlors only if they comply with and implement the PIA 2021, with regards to Host Communities Development Regulation No.114 of 2022, and in adherence to all other protocols to yield sustainable development and the participatory rights of the Petroleum Communities