Tag: Host Communities Development Trust Fund
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House Probes Oil Firms Over Failure to Fund Host Communities Development Trust Fund
Background of the Probe The Nigerian House of Representatives has ordered a comprehensive investigation into the persistent failure by oil and gas companies to remit the mandatory three per cent of their annual operating expenditure to the Host Communities Development Trust Fund (HCDTF). The directive comes amid concerns that the fund, designed to support development…
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Reps Launch Full-Scale Probe into Oil Firms Over Host Communities Fund Shortfall
Background: A Mandated 3% Contribution and the Trust Fund The Nigerian House of Representatives has ordered an expansive inquiry into the persistent failure of oil and gas companies to remit the mandatory three per cent of their annual operating expenditure to the Host Communities Development Trust Fund (HCDTF). This fund is designed to channel resources…