Peter Uzoho
The Olu of Warri, Ogiame Atuwatse III has announced the plan of his kingdom to incorporate the Host Communities Development Trust (HCDT) created by the Petroleum Industry Act (PIA) into the global development master plan of his oil-rich communities in Delta State.
He disclosed the plan would be characterised by bold transparency and international best practices in their community development initiatives.
The monarch made the disclosure
at the Iwereland Petroleum Communities Summit on the implementation of the Host Communities’ Development Trust in oil producing Itsekiri communities under the PIA 2021, which he hosted.
His speech was sent to THISDAY yesterday.
Section 235 of the PIA provides for the incorporation of Host Communities Development Trust by the Settlors (the oil and gas companies) for the benefit of the host communities.
The Act placed the responsibility to set up the HCDT and appoint the Board of Trustees (BoTs) on the companies in consultation with the host communities, while Section 247 of the Act requires the BoT to set up a management committee to handle the general administration of the fund.
Delivering his keynote address, entitled: “A New Dawn,” Ogiame said his kingdom’s master plan would also include issues of tenure and governance, maintaining that the plan would provide the matrixes for contracting processes, and standards for operations of the trust fund and the host communities in consonance with the PIA.
He said the HCDT provided by the PIA proposes to advance and propagate educational development for the benefit of members of the host communities within the scope of funds available to the BoTs for such purposes.
“A study of the Act reveals that it proposes to advance and propagate educational development for the benefit of members of the host communities within the scope of funds available to the Board of Trustees for such purposes. This is where we look to incorporate our global development master plan
“This plan shall be characterised by bold transparency and international best practices in our community development initiatives, to which we invite the collaboration of our partners. The master plan will also include issues of tenure and governance, and provide the matrixes for contracting processes, and standards for operations of the trust fund, the host communities in consonance with the Act,” the monarch said.
He noted that the driving spirit and recurring theme of the PIA was inclusion and the support of local initiatives for the security of the host communities.
Ogiame observed that the Act has resulted in equal access to not only opportunities, but resources, as would otherwise have been the case where some are marginalised or out rightly excluded from the wealth that belongs to us all.
According to him, “We intend that The lwereland Global Masterplan will be so well put together, that all arms of government and intervention agencies become fully committed to being a part of that plan. We will discourage idleness and a sense of entitlement, while encouraging competence and all that brings added value to the effort.”
He added that by making inclusion total, “we shall rally our lwereland diaspora sons and daughters to the plan, by employing the vehicles of a global roadshow, designed to guide them to remit talent and finance back home to invest.
“It requires savviness in economics, finance and management to achieve this goal. With this and other merit based criteria, we will find that convergence of competence and integrity of character to make Iwereland flourish.”
He mentioned that the primary purpose of the PIA was to assist in any developmental purpose, deemed beneficial to the host communities, as may be determined by members of the boards, who must invest part of the available funds for and on behalf of the host communities.
This crucial role, Ogiame explained, demanded an equilibrium of high performance and trustworthiness, as the parameters for effective operational excellence of the boards.
However, regretting that Nigeria had recorded 60 years of terrible wastage and mismanagement of the nation’s oil resources, he said the real blessing and wealth were about to become manifest with the advent of the PIA.
The king described the PIA as one of such opportunities and a very crucial chapter in stewarding their commonwealth in terms of community entitlements that derive from the development of oil and gas operations in lwereland.
Ogiame pointed out that the PIA was essentially an instrument designed to cure the appetites of individuals who have become used to appropriating the commonwealth to themselves or mismanaging the wealth to the detriment of the destiny of the people.
He stressed that the purpose of the summit was to promote awareness and enjoin the people to participate actively and wisely in choosing their representation in the activation of the all-important Act.
“As a natural leader, we must speak the truth and set the right foundations as we move to rebuild with this new opportunity.
“Many seemingly justifiable factors have led to us holding on to counter-productive sentiments. It is time to heal and move on from this self-limiting and self-destructive holding pattern.
“We must shift our focus to competence as the imperative requirement in running the governance of the assets and instruments that the communities invest in.
“We assure government, companies, non-governmental organisations and regulatory authorities that we are well aware that our job is to make Iwereland more hospitable for business -whether energy or otherwise, no matter the obstacles thrown on our way,” he concluded.
