Petralon 54 Limited, the indigenous exploration and production company operating the Dawes-Island Field in Rivers State, has inaugurated the Host Community Development Trusts (HCDTs) for the Ogoloma and Koniama communities in Okrika Local Government Area, in compliance with the provisions of the Petroleum Industry Act (PIA) 2021.
The inauguration, held over two days in Port Harcourt, brought together government officials, oil industry regulators, traditional rulers, community leaders, women representatives, and other stakeholders.
Speaking at the ceremony, the Founder and Chief Executive Officer of Petralon Energy, Mr. Ahonsi Unuigbe, described the establishment of the HCDTs as more than a statutory requirement, saying it reflects the company’s commitment to responsible business practices and sustainable community development.
According to him, the trusts represent a platform for fostering long-term partnerships with host communities while promoting empowerment, inclusion, and shared prosperity.
Executive Director of Petralon 54, Mr. Uduakobong Equere, said the inauguration marked a significant milestone in strengthening transparency, accountability, and community participation in the management of benefits accruing from oil and gas operations.
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He noted that the trusts were established to ensure that the economic and social benefits of petroleum activities directly impact the people of the host communities.
Responding on behalf of the beneficiaries, Chairman of the Board of Trustees of the Okochiri Host Community Development Trust, Dr. Chris Biriowu, commended Petralon 54 for its commitment to transparency and community development.
He pledged the continued support and cooperation of the people of Okochiri toward the successful implementation of the initiative.
Similarly, Chairman of the Ogoloma Host Community Development Trust, Chief Miebaka Tamunopekerebia, described the company as a responsible corporate organisation committed to collaboration and sustainable development.
He said the initiative would strengthen relationships between host communities and oil companies while promoting peace and shared economic growth.
The Host Community Development Trust is a key provision of Chapter Three of the Petroleum Industry Act, which requires oil and gas operators to establish trusts to deliver sustainable social and economic benefits to host communities, promote peaceful coexistence, and support uninterrupted petroleum operations.
Among dignitaries at the inauguration were the Permanent Secretary, Rivers State Ministry of Chieftaincy and Community Affairs, Mr. Ndukwe Patrick; officials of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), including Assistant Director Olatokunbo Karimu and Deputy Director Dr. Ogechi Opete, who represented the Commission Chief Executive, Engr. Gbenga Komolafe.
