A non-governmental organization, Spaces for Change, has announced the second edition of the National Extractives Dialogue (NED) set to be held on 14th – 15th September, in Owerri, Imo State.
According to a statement by the NGO, NED2023 will set the stage for an inclusive and transformative discussion on the responsible management of oil, gas, and mineral resources in West Africa.
The statement adds that the second annual convening, organized in collaboration with the Nigerian Extractive Industries Transparency Initiative (NEITI), will bring together over 200 stakeholders from diverse backgrounds, including policymakers, regulators, extractive industry players, academia, media, civil society organizations, and host communities.
The theme, “Host Community Development Trusts: Catalysts for Equitable Benefit-Sharing and Sustainable Prosperity for All,” reflects the urgent need to harness the potential of Host Community Development Trusts (HCDTs) established under the Petroleum Industry Act (PIA). These trusts aim to bridge the gap between natural resource wealth and the well-being of host communities. The PIA, in its Chapter 3, mandates the establishment of Host Community Development Trusts to ensure that host communities directly benefit from natural resource extraction activities. Recognizing these communities’ historical and socio-economic importance, the HCDTs serve as a vital mechanism to address their multifaceted needs and concerns.
Victoria Ibezim-Ohaeri, Executive Director of Spaces for Change says that the theme for NED2023 couldn’t be timelier as oil corporations are currently in the process of setting up Host Community Development Trusts.
According to her, “host communities should not be reduced to mere spectators in the administration of the Host Community Development Trusts. The management of the HCDTs should not overlook the existing community structures, traditional institutions, including cultural and statutory organisations that have historically been responsible for undertaking community development in the host communities.”
Stakeholders at NED2023 will collectively evaluate the progress in establishing HCDTs across oil-producing states in Nigeria, focusing on governance structures, funding mechanisms, equitable benefit-sharing, community participation, conflict resolution, and long-term investments. This dialogue underscores the commitment of all stakeholders to the development and well-being of host communities.