Library / Page 1 of 35 MIDSTREAM PETROLEUM HOST COMMUNITIES DEVELOPMENT TRUST REGULATIONS, 2024
Page 1 of 35 MIDSTREAM PETROLEUM HOST COMMUNITIES DEVELOPMENT TRUST REGULATIONS, 2024
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Page 4 of 35 PETROLEUM INDUSTRY ACT, NO. 6, 2021 MIDSTREAM PETROLEUM HOST COMMUNITIES’ DEVELOPMENT TRUST REGULATIONS, 2024 Commencement In exercise of the powers conferred on it by sections 33, 234(2) and 235(6)(a) of the Petroleum Industry Act, No. 6, 2021 (“the Act”) and of all other powers enabling it in that behalf, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (“Authority”) makes the following Regulations – 1. The objectives of these Regulations are to – (a) provide substantive and procedural requirements for the establishment and administration of the Trust and the Fund for Nigerian midstream petroleum host communities; (b) outline the parameters for the administration and safeguard of the Fund; (c) prescribe a grievance resolution mechanism for settlement of disputes between host communities and licensees; and (d) provide general rules for the implementation of the provisions of the Act for the development of midstream petroleum host communities. Objectives 2. (1) These Regulations shall apply to Nigerian midstream petroleum host communities and a holder of a licence engaged in midstream petroleum operations as defined in section 318 of the Act. (2) The Authority may by notice designate the facilities to which these Regulations shall apply, provided that the Regulations shall apply to designated facilities as provided under the Act. Application
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