First Fiduciary, NUPRC Leads Dialogue on Industry Lessons, Future Pathways

As Nigeria’s petroleum industry continues to navigate the evolving landscape of community engagement and sustainable development, stakeholders are being called to assess the progress of Host Community Development Trusts (HCDTs). Four years into implementation, concerns persist among host communities about the pace of development and the tangible impact of the Trusts. This moment presents a critical opportunity for all parties to reflect on lessons learned, identify gaps, and recommit to the core intent of the framework, fostering lasting, inclusive development in oil-producing areas.

To address these pressing issues, First Fiduciary Limited, in partnership with the Nigerian Upstream Petroleum Regulatory Commission, is hosting a high-level roundtable in Lagos. The event, themed “Four Years After the Petroleum Industry Act: Rethinking the Experience, Restating the Future,” will bring together key industry stakeholders including operators, regulators, trust board members, legal professionals, and community leaders to assess the current state of Host Community Development Trust implementation and chart a more effective and inclusive path forward.

“The industry has mastered the mechanics of Host Community Development Trust establishment,” says Oyeyemi Oke, Managing Director of First Fiduciary Limited. “However, operational excellence in trust administration requires a fundamentally different approach to stakeholder engagement. The operators achieving real community impact have moved beyond transactional compliance to create strategic partnerships aligned with both development and business sustainability. This roundtable will explore what makes those models work and why others are falling short.”