HEDA Calls For Transparency In Oil Industry

The Human and Environmental Development Agenda (HEDA Resource Centre) has called for transparency in governance and business management while advocating drastic steps against corrupt leaders to tackle corruption in the country.

The association also noted the need to reawaken the allegations confronting NNPC to avoid sweeping it under the carpet.

In a chat with LEADERSHIP, HEDA chairman, Olanrewaju-Suraju, emphasised  the need for proper accountability and transparency by political office holders. He, however, commended the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) for mobilising approximately N300 billion for the Host Community Development Trusts (HCDT).

The organisation urged full compliance from all settlers to abide by Section 240 of the Petroleum Industry Act (PIA), which mandates annual contributions equivalent to three per cent of actual operating expenditure from the preceding year.

HEDA cautioned against management and said that the disbursement of the HCDT fund must be guided by the highest standards of transparency, accountability, and community participation, as stipulated in Sections 241, 244, and 251 of the PIA.

The fund, the group emphasised, must be utilised solely for community development, infrastructure, security, and environmental protection for the direct benefit of host communities. “We strongly advise against replicating the operational failures and lack of accountability that have characterised past interventionist agencies like the NDDC and Presidential Amnesty Programme.

The Petroleum Industry Act provides a clear framework for inclusive and accountable management of the fund. Any deviation will betray the purpose of the Act and erode public trust.” Suraju said.

HEDA called for strict adherence to the Act’s provisions, including the establishment of a Board of Trustees and Management Committee (Sections 235, 242, and 247), and urged anti-corruption agencies to play an active oversight role to ensure the fund becomes a catalyst for lasting development.