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NUPRC Asserts Exclusive Oversight of Host Community Trust Funds

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has reaffirmed its exclusive authority to oversee and monitor Host Community Development Trusts (HCDT) under the Petroleum Industry Act. Commission Chief Executive Oritsemeyiwa Eyesan clarified this mandate during a meeting with the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), emphasizing that NUPRC has already registered 172 trusts. The commission is currently leveraging its Alternative Dispute Resolution Center to manage legal challenges regarding board compositions, including an ongoing dispute involving Sterling Oil Exploration and Energy Production Company (SEEPCO).

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