RMAFC
RMAFC Urges Oil Companies to Prioritize Host Community Development
PicNews
The Revenue Mobilisation Allocation and Fiscal Commission has urged oil companies operating in Nigeria to enhance their Corporate Social Responsibility initiatives in host communities. This call to action was made during a mediatory meeting between Sterling Oil Exploration & Energy Production Company, Orient Petroleum, and their host communities in Anambra State.
The host communities expressed dissatisfaction with the current state of CSR efforts, citing years of neglect and unfulfilled promises. They demanded tangible projects, including roads, schools, hospitals, electricity, and job opportunities for locals.
RMAFC emphasized that oil companies must demonstrate genuine commitment to CSR, as mandated by the Petroleum Industry Act. The Commission expects oil companies to meet their obligations to host communities, ensuring transparency and fairness in their operations.
The Commission has directed SEEPCO to submit audited reports of its host community expenditure since the implementation of the PIA. RMAFC plans to conduct oversight visits to verify compliance and ensure that host communities benefit from CSR initiatives.
The Nigeria Upstream Petroleum Regulatory Commission is closely monitoring the companies’ activities to ensure compliance with regulatory requirements. The regulator is tracking community development projects under the Host Community Trust.
