INGENTIA Energies inaugurates PML 66 HCDT board, pledges transparency
The Managing Director of INGENTIA Energies Limited, Charles Odita, has stated that the inauguration of the PML 66 Host Communities Development Trust (HCDT) Board will significantly accelerate development in the company’s host communities.
He noted that the trust would provide a major boost to community development, highlighting that the Petroleum Industry Act (PIA) mandates oil and gas operators to contribute three per cent of their previous year’s operating expenditure to the HCDT.
Mr Minima explained that extensive consultations and needs assessments—involving women, youths, traditional rulers, and other stakeholders—resulted in a five-year community development plan to guide the utilisation of the statutory three per cent operating expenditure contribution.
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