Petralon 54 (Petralon) reinforces its commitment to sustainable community development with the successful establishment and incorporation of Host Community Development Trusts (HCDT) for the Ogoloma and Koniama communities in Rivers State, in compliance with the Petroleum Industry Act (PIA) 2021.
The establishment of these trusts represents a significant milestone in Petralon’s mission to foster collaborative partnerships between oil producing companies and host communities, ensuring lasting economic, social, and environmental benefits that extend well beyond regulatory requirements.
Working closely with community representatives, Petralon’s approach empowers host communities to determine and implement projects that best serve their long-term developmental needs. This community-driven methodology ensures that development initiatives are both culturally appropriate and sustainable.
In July 2024, Petralon conducted comprehensive sensitisation and enlightenment programs to educate community leaders, youth representatives, women’s groups, and other key stakeholders on the benefits and operational structure of the HCDT framework. Following these sessions, each community established dedicated committees to draft Community Development Action Plans (CDAPs) based on thoroughly assessed local needs and priorities.
Following the formal incorporation and inauguration of the trusts, Management and Advisory committees will be established with members receiving comprehensive capacity building training in project management and governance. Based on their respective CDAPs, detailed 12-month implementation roadmaps will be developed before funding is released to execute approved community development plans.
Commenting on this achievement, Ahonsi Unuigbe, Petralon’s Founder & Chief Executive Officer, emphasised the company’s transformative vision: “At Petralon, we believe in redefining the traditional relationship between oil companies and host communities. Our approach prioritises collaboration, transparency, and long-term impact. We are investing in the socio-economic transformation of the Ogoloma and Koniama communities.”
Petralon’s establishment of these Host Community Development Trusts underscores the company’s long-standing philosophy of partnership-driven development and its alignment with Nigeria’s broader goals of sustainable, community-focused energy sector transformation under the PIA framework.