The Nigerian Upstream Petroleum Regulatory Commission NUPRC has overseen the formal handover of the Olo Oilfield Host Community Development Trust from TotalEnergies to Aradel.
The Executive Commissioner, Health, Safety, Environment, and Community, NUPRC, Captain John Tonlagha, at the ceremony in Abuja said the transition is designed to carry along communities in Nigeria’s oil-producing heartlands where divestment has often meant anxiety for host communities.
The ceremony at the headquarters of the Nigerian Upstream Petroleum Regulatory Commission
NUPRC in Abuja was more than a corporate formality.
It was a reassurance that even as oil assets change hands, communities will not be left behind.
The Olo Oilfield Host Community Development Trust, established under the Petroleum Industry Act, PIA 2021, was formally transferred from
TotalEnergies to Aradel ensuring continuity in community development projects already underway.
Under the PIA, operators are required to commit three percent of their operating expenditure to host community development, a policy now translating into real impact.
Speaking on behalf of the NUPRC Chief Executive, Executive Commissioner for Health, Safety, Environment and Community, Captain John Tonlagha, said the trust remains intact, its governance preserved and funding obligations transitioning seamlessly, exactly as envisioned by the law.
Community leaders welcomed the development. The Chairman, Board of Trustees, Olo host community Wale Godwin
praised the delivery of 118 projects out of 160 planned, while commending the Commission’s strict oversight, including approval of Community Development Plans before projects begin.
As Nigeria’s oil sector continues to evolve, the Olo handover sends a distinct message…divestment does not have to mean displacement. And With strong regulation and responsible operators, communities can remain at the centre of development, not at the margins.
(Editor: Ebuwa Omo-Osagie)
