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Abuja, FCT – By Prime Brief Media

The Federal Government has reaffirmed its commitment to the full implementation of the Host Community Development Trust, a key provision of the Petroleum Industry Act designed to ensure that oil-producing communities directly benefit from the resources extracted from their land.

The announcement was made on Wednesday by the Minister of Petroleum Resources (Oil), who stated that the Trust will channel a legally mandated percentage of oil companies' operating expenditure directly into community development projects. The funds are to be managed by boards comprising community representatives, oil company officials, and independent trustees.

"For decades, our oil-producing communities suffered neglect and environmental degradation while the wealth flowed elsewhere. The Host Community Development Trust is designed to correct this historical injustice. We are determined to ensure that this provision of the PIA is implemented fully and transparently," the minister said.

The Trust has been a source of tension in some communities, with disputes over the composition of boards and the disbursement of funds. The government says it is working with the Nigerian Upstream Petroleum Regulatory Commission to resolve outstanding issues and to ensure accountability in the management of the funds.

Niger Delta leaders have cautiously welcomed the announcement but insist that the government must also address pipeline surveillance contracts and environmental remediation.

Prime Brief Media will follow industry reactions and corporate disclosures as this story progresses.

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