KEFFESO trust delivers 78% projects, boosts governance

Nathan Tamarapreye, Yenagoa

The KEFFESO Host Communities Development Trust (HCDT) achieved a 78 per cent project execution rate in 2025, marking significant strides in governance, financial oversight, and infrastructure delivery.

Dr Matthew Sele-Epri, Secretary to the Board of Trustees, announced the milestone at the Trust’s 2025 Annual General Meeting (AGM) held in Yenagoa. The AGM carried the theme: “Stewardship Today, Transformation Tomorrow: Delivering Sustainable Value Through Transparency and Impact.”

Sele-Epri explained that the Board strengthened oversight through statutory meetings and reinforced its Programmes Oversight, Monitoring and Evaluation, and Finance, Accounts, Audit and Risk Management committees.

He added that the Trust registered with the Financial Reporting Council of Nigeria and appointed Forvis Mazars as external auditor after a competitive selection process. Vetiva Capital and FBNQuest were also engaged to manage approved naira and dollar reserve investments.

Board Chairman, HRH Moses Theophilus, reported that all four legacy concrete-road projects inherited from the GMoU framework were completed. He highlighted the delivery of five solar-powered industrial boreholes, maintenance of water facilities in four communities, and progress on 2025 community projects beyond procurement stage.

Theophilus further noted that the Trust supported 258 education, health, and water-service personnel, profiled 229 persons living with disabilities, and enrolled 40 youths in technical training initiatives.

He commended FIRST Exploration & Petroleum Development Company Ltd. (FIRST E&P) for a medical outreach that reached 3,871 beneficiaries and distributed 916 eyeglasses. He also cited the K-yan digital education initiative, implemented in partnership with the Nigerian Content Development and Monitoring Board.

Acknowledging challenges, Theophilus stressed the need for stricter compliance with procurement timelines and early escalation of contractor performance risks.

Representing FIRST E&P’s Managing Director, Mrs Anita Osagie praised the Trust’s 78 per cent execution rate and its recognition with the Host Community Human Capacity Development Excellence Award.

She reaffirmed the company’s commitment to sustainable development, healthcare, and education in host communities, urging stakeholders to safeguard and take ownership of the investments.

KEFFESO comprises the communities of Koluama, Ezetu, Foropa, Fish Town, Ekeni, Sangana, and Opu-Okumbiri/Okumbiribeleu/Oginibiri under the NNPC Ltd./FIRST E&P Joint Venture operating PML 53 and PML 54.