Seminar On Unbundling the Pia: Host Communities Development Trust Under the Pia,2021 And Its Regulation 2022

Why Attend

The Petroleum Industry Act, 2021 (PIA) mandates the incorporation of host communities’ development trust (the Trust) by companies known as settlors under the PIA. The settlors are companies that have interest in petroleum prospecting licence or petroleum mining lease whose area of operation is located or appurtenant to any community or communities. The incorporation of the Trust is to be done within a particular timeframe stipulated in the PIA. Penalties for non-compliance are stipulated in the PIA as well as the Nigeria Upstream Petroleum Host Communities Development Regulations 2022 (the Regulation) issued by the Nigerian Upstream Petroleum Regulatory Commission (the Commission) on 24 June 2022.

In this workshop, we offer insight into the viability of the timeframe by taking into account the possibility of conflict or dispute in the appointment and authorisation of the Trust’s Board of Trustees by the settlors. We will delve into a liberal and purposive interpretation of the timeframe provided in the PIA in deserving circumstances. Finally, we considered the penalty provisions for non-compliance with the timeframe with a view to understanding the exposure of the settlors as well as the enforceability of the penalty provisions, especially as found in the Regulation.

Course Methodology

The course is built on presentations by the instructor and the participants and includes exercises and case studies to be discussed in the training.

Course Objectives

By the end of the course, participants will be able to:

Learn the various chapters of the Act

Understand the timeframe for incorporation of the Trust.

Discuss extensively on methodologies to adopts PIA, Regulations for tangible Developments.

Understand the various Sources of Funding for Petroleum Host Communities Development Trust

Understand the key  objectives of the Host Community under Section 234 of the Act are as follows;

• To foster sustainable prosperity within host communities;
• To provide direct social and economic benefits from petroleum operations to host communities;
• To enhance peaceful and harmonious co-existence between licensees or lessees and host communities; and
• To create a framework to support the development of host communities.

Target Audience

This intensive course is designed for senior management, board level directors and non-executive directors Lawyers, Community Relation Personnel Project Managers to focus on understanding the key provisions of the PIA. Who should attend?

• Senior management
• Members of the board
• Lawyers
• Community Relation Personnel
• Project Managers
• Heads of Risk
• Heads of Operations
• Heads of IT
• Head of Internal Audit
• Risk management professional