NEWS
NUPRC Identifies over 1,100 HCDT Projects in Niger Delta
The Host Communities Development Trust (HCDT) framework established by the Petroleum Industry Act (PIA) is yielding fruits having given birth to over 1,100 projects being executed across the Niger Delta.
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) made the disclosure on Thursday, through its Assistant Director, Host Community Development Affairs, Kingsley Ehiaguina.
He spoke during the inauguration of the Board of Trustees of the PML 66 HCDT by Ingentia Energies Limited in Port Harcourt.
The trust comprises three communities in Ahoada West Local Government Area of Rivers State — Egbolom, Omelema and Ahoada I.
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The PIA, which came into effect in 2021, provides the legal, governance, regulatory and fiscal framework for Nigeria’s petroleum industry and provides for the establishment of the HCDT to ensure oil-producing communities benefit directly from petroleum operations by identifying and implementing projects that address their development needs.
Speaking at the event, Ehiaguina said the inauguration marked another milestone in the implementation and operationalisation of the HCDT framework.
“We are so delighted to be here today at this inauguration of the PML 66 HCDT. It is a testament to the implementation and the operationalisation of the Host Community Development Trust.
“It is a transformational initiative that has the tendency and the potential to turn our host community into a wonder, and the gains have already been recorded since the implementation of the HCDT.
“Since the implementation of the HCDT, 163 HCDTs have been incorporated, and I can tell you that billions of naira have been remitted into the various accounts, and over 1,100 projects are ongoing across the Niger Delta.
“We have commissioned over 200 projects. I can tell you that the PIA and the HCDT framework are working.
“So today is another testament to what we can achieve when we collaborate, when we are united between the settlor (company) and our host community,” Ehiaguina stated.
He commended Ingentia Energies Limited for its commitment to implementing both the letter and spirit of the Petroleum Industry Act.
Addressing the trustees, he said, “From the NUPRC, we’ll ensure that everything that you own as your right is given to you by ensuring that the company pays its three per cent statutory contribution and ensuring that the sustainable development you seek for your community is achieved.”
Ehiaguina urged the Board of Trustees to remain transparent and work in the best interests of the host communities.
In his remarks, the Managing Director and Chief Executive Officer of Ingentia Energies Limited, Charles Odita, said the trust was established after extensive consultations with stakeholders and the host communities.
Odita said that, in line with the PIA, the company would provide funding for projects selected by its host communities and expressed satisfaction that the board had finally been inaugurated after delays involving various stakeholders.
“We know that with the cooperation of the three communities we are indeed here today.
“I believe that with the inauguration of this Trust there will even be a jump start to the impact of our operation on the community because, as we are all aware, under the PIA, the government in its wisdom has mandated that we set aside three per cent of our operating expenditure for the previous year to be given to the Host Community Development Trust.
“It is then the Trust that determines what happens. So with this, we believe we are going to be making our own contribution, and then the Trust, which is made up of members of the community, will indeed decide how and what they want to do.
“So this, for me, is going to be a major game changer for the accelerated development of the community,” he said.
Also speaking, the Permanent Secretary, Rivers State Ministry of Chieftaincy and Community Affairs, Patrick Ndukwe, described the inauguration as a significant milestone for the energy sector and the host communities of PML 66.
He said the event fulfilled one of the obligations of the settlor under the Petroleum Industry Act and assured that the state government would continue to provide a peaceful and conducive environment for businesses to thrive.
Ndukwe urged the trustees to select projects that align with the Rivers State Government’s development priorities.
“As you choose your projects you must ensure that they align with the Rivers State Government development plan under the visionary leadership of His Excellency Sir Siminalayi Fubara, Governor of Rivers State,” he stated.
He listed infrastructure development, sustainable urban and rural communities, road construction, transportation, quality education, healthcare and agriculture among the state’s development priorities.
Earlier, a consultant to Ingentia Energies Limited, Godwin Minimah, described the inauguration of the PML 66 Board of Trustees as a significant step towards strengthening relations between the company and its host communities.
President Bola Ahmed Tinubu has declared that he is healthy, sound and ready to resume work after returning to Nigeria from his four-week working vacation in Europe.
Tinubu made the remarks on Tuesday shortly after arriving in Lagos from Paris, France, where he spent the final part of his vacation.
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Speaking briefly after his arrival, the President said he enjoyed the break before assuring Nigerians of his readiness to return to official duties.
“I enjoyed myself,” Tinubu said.
On his readiness to resume work, he added: “Ready to kick, ready to work. There’s nothing wrong.”
The President also addressed rumours surrounding his wellbeing, attributing such speculation to the political environment.
“Well, rumour will always be emanating from politics, but the fact remains I’m here—healthy, sound, and ready to go,” he said.
Tinubu arrived at the Presidential Wing of the Murtala Muhammed International Airport in Lagos at about 6:22 p.m. on Tuesday, marking the end of his European working vacation.
His return comes ahead of Nigeria’s 66th Independence Anniversary on October 1, with the President expected to participate in activities marking the occasion in Lagos.
The Presidency had earlier said Tinubu would remain in Lagos for several days for Independence Day engagements and strategic meetings before returning to Abuja.
Tinubu departed Nigeria on August 30 and spent time in London and Paris during the trip, while continuing official engagements.
The Managing Director and Chief Executive Officer of the Niger Delta Development Commission (NDDC), Samuel Ogbuku, has highlighted the completion of the 1.2-kilometre Kaa-Ataba Bridge in Rivers State as evidence of the Commission’s growing capacity to deliver major infrastructure projects across the Niger Delta.
Ogbuku spoke at the 2026 NDDC Partners for Sustainable Development Conference in Port Harcourt, where he attributed the Commission’s progress to the support and cooperation of its development partners and other stakeholders.
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The Kaa-Ataba Bridge links Khana and Andoni Local Government Areas of Rivers State and is expected to improve connectivity between the communities when opened to vehicular traffic.
According to Ogbuku, the project is among developments that many previously considered beyond the capacity of the NDDC.
“These are things that, in the past, people never believed the NDDC could do. Today, we are doing them seamlessly because of the support we are getting,” he said.
The NDDC boss said the progress recorded by the Commission demonstrated the impact of collaboration between the agency and its development partners.
He thanked stakeholders, President Bola Ahmed Tinubu, the National Assembly and the Minister of Regional Development for their support and encouragement towards the delivery of projects across the Niger Delta.
Ogbuku said the achievements also underscored the importance of collective responsibility, in line with the theme of the 2026 conference, “Synergy for Transformation.”
Presidential spokesman Bayo Onanuga has highlighted the Nigerian National Petroleum Company Limited’s (NNPC Ltd) latest financial and operational performance, saying the figures offer “some lessons for Atiku” amid the debate over fuel subsidy.
Onanuga disclosed this in a post on X on Tuesday while reviewing NNPC’s key financial performance for 2025 following the release of the company’s audited results.
According to him, NNPC’s earnings before interest, taxes, depreciation and amortisation (EBITDA) rose by 22 per cent to ₦18 trillion, while earnings per share increased by 32 per cent to ₦35.9.
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He said the company’s operating cash flow also grew by 16 per cent to ₦12.8 trillion, while return on equity improved by 200 basis points to 16 per cent.
Onanuga further noted that NNPC declared a ₦5.8 trillion dividend, representing a 35 per cent increase.
Highlighting the company’s operational performance, he said crude oil and condensate production averaged 1.77 million barrels per day, its highest level in five years.
Natural gas output, he added, averaged 7.2 billion standard cubic feet per day, representing a three-year high.
Oil and condensate production totalled 565.8 million barrels, up five per cent, while NNPC’s equity share increased by 11 per cent to 223.7 million barrels.
Gas production also reached 2,606.2 billion standard cubic feet, up nine per cent, while the company’s equity share rose by 11 per cent to 1,154.9 billion standard cubic feet.
Onanuga then linked the performance to the subsidy debate, arguing against a return to petrol subsidy.
“Atiku’s subsidy programme will certainly kill this company, which could be our own Aramco. Our country has no business taking 100 steps back. Forward ever!” he said.
NNPC Records ₦7.2tn Profit
NNPC Ltd had earlier announced a 33 per cent increase in profit after tax for the financial year ended December 31, 2025.
The company’s profit after tax rose from ₦5.4 trillion in 2024 to ₦7.2 trillion in 2025, while revenue stood at ₦34.5 trillion.
NNPC also reported a 22 per cent increase in EBITDA to ₦18 trillion, a 16 per cent rise in operating cash flow to ₦12.8 trillion and a 32 per cent increase in earnings per share to ₦35.9.
The company declared a ₦5.8 trillion dividend, representing a 35 per cent increase.
On production, NNPC said crude oil and condensate output averaged 1.77 million barrels per day, its highest level in five years, while natural gas production averaged 7.2 billion standard cubic feet per day.
The company said the results reflected stronger earnings capacity and operational momentum as it continues to pursue increased production and investment across the Nigerian oil and gas sector.
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