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 7 of 35 
 
 
(d) 
a copy of the applicant’s licence with a map 
identifying the licensee’s area of operations annexed to it;  
 
(e) 
the list and location of host community to be covered 
by the trust; 
 
(f) 
the host community development plan specifying 
matters described in these Regulations; and 
 
(g) 
a fund matrix specifying matters described in these 
Regulations. 
 
8. (1) The Authority shall within 60 days of receipt of the documents 
submitted by a licensee notify the licensee of its decision to approve 
or decline the application. 
 
(2) Where the Authority declines the licensee’s application, the 
Authority shall provide the licensee with the reason for refusal and 
may direct the licensee to amend and resubmit its application 
within 30 days. 
 
(3) Where the Authority does not communicate its decision to the 
licensee within the 60 days period specified in sub-regulation (1) of 
this regulation, the licensee’s application shall be deemed to have 
been approved, and the licensee shall be entitled to proceed with 
the implementation of its host community development trust 
obligations. 
 
Approval by the 
Authority 
 
 
9. (1)  Where a licensee or operator appointed by a licensee fails to 
incorporate a trust as stipulated in section 236 (c) and (f) of the 
Act, the Authority may issue to such defaulting licensee or 
operator, where applicable, a notice in writing of its failure to 
establish a trust and direct the licensee to register the trust within 
90 days.  
 
(2) A licensee or an operator appointed by the licensee who fails to 
incorporate a trust within the timeline stated in the notice under 
sub-regulation (1) of this regulation, shall be liable to an 
administrative penalty of N1,000,000.00.  
Failure 
to 
Incorporate a Trust