By Samuel Oyadongha, Yenagoa

The KEFFESO Host Communities Development Trust has recorded significant progress in governance, financial management, infrastructure delivery and community development, with its project portfolio achieving a 78 per cent execution rate in 2025.

The disclosure was made on Friday at the Trust’s 2025 Annual General Meeting, AGM, held at Mathocrystal Hotel, Yenagoa, Bayelsa State, with the theme, “Stewardship Today, Transformation Tomorrow: Delivering Sustainable Value Through Transparency and Impact.”

Presenting the Board of Trustees’ report card, the Secretary to the Board, Dr Matthew Sele-Epri, said the Board strengthened its oversight functions through regular meetings, committee reviews and monitoring of the Trust’s approved workplan and budget.

He said the Board also strengthened the activities of its Programs Oversight, Monitoring and Evaluation Committee; Advocacy, Communications, Partnership and Stakeholder Management Committee; and Finance, Accounts, Audit and Risk Management Committee.

According to Sele-Epri, the Trust made progress in procurement, recruitment, grievance management, stakeholder engagement, project delivery, health, safety and environmental standards, ethics, budgeting and financial management.

He disclosed that Forvis Mazars was appointed external auditor following a structured selection process, while the Trust completed its registration with the Financial Reporting Council of Nigeria.

He added that Vetiva Capital and FBNQuest were appointed to manage approved naira and dollar reserve investments under the oversight of the Finance, Accounts, Audit and Risk Management Committee and the Board.

Sele-Epri said the Board was satisfied that the Management Committee and Secretariat operated substantially within the Trust’s approved mandate, workplan and budget, although some areas required improvement.

He said future governance efforts would focus on improving information flow, performance appraisal, early escalation of implementation risks, management reporting, timely delivery, prudent resource utilisation, community participation and sustainability.

The Board subsequently endorsed the Management Implementation Report and audited financial statements for presentation to the AGM.

In his address, the Chairman of the Board of Trustees, HRH Moses Theophilus, said 2025 was marked by institutional consolidation and measurable progress across the Trust’s 11 host communities.

He said the Trust supported 258 education, health and water-service personnel, profiled 229 persons living with disabilities to support inclusive programming and enabled 40 young people to access opportunities under the Federal Government’s technical and vocational education initiative.

The Trust, he added, also facilitated scholarship, employment and contractor-registration opportunities through its engagements with industry stakeholders.

On infrastructure, Theophilus said all four legacy concrete-road projects inherited from the former GMoU framework had been completed.

He added that five solar-powered industrial boreholes were delivered and water facilities in four communities maintained, while the wider project portfolio recorded 78 per cent execution.

The 2025 community projects, he said, had moved beyond procurement and contractor-selection stages and were at various stages of construction, supported by standard project prototypes, joint inspections and improved documentation.

The chairman also acknowledged social investments by FIRST Exploration & Petroleum Development Company Limited, including its 2025 medical outreach, which he said reached 3,871 beneficiaries and distributed 916 pairs of eyeglasses.

He highlighted the K-yan digital education initiative implemented in partnership with the Nigerian Content Development and Monitoring Board, NCDMB.

However, Theophilus acknowledged challenges, including delays in procurement, contractor performance and health, safety and environmental compliance.

“Transparency demands that we speak honestly about the gaps,” he said, noting that procurement timelines were longer than anticipated and that contractor performance, HSE compliance, information flow and community engagement required stronger attention.

He said the Trust would address the challenges by strengthening monitoring systems, clarifying institutional roles, improving contractor accountability, digitising processes and developing sustainability plans for its projects and programmes.

The chairman said the Trust’s success should not be measured only by the number of projects completed but also by whether the projects remained functional, improved lives and were sustained by the communities.

He thanked FIRST E&P, NNPCL Exploration & Production Limited, the Nigerian Upstream Petroleum Regulatory Commission, community leaders, women, youths, persons with disabilities, development partners and other stakeholders for their support.

KEFFESO comprises Koluama, Ezetu, Foropa, Fish Town, Ekeni, Sangana and Opu-Okumbiri/Okumbiribeleu/Oginibiri. It is the Host Community Development Trust of the NNPC Limited/FIRST Exploration & Petroleum Development Company Joint Venture, operator of PML 53 and 54.