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Shell spends $195.5m on social investments

Shell Companies in Nigeria spent $195.5million on social investments in the country in 2015. The company said the sum of $145.1 million was paid to…

Shell Companies in Nigeria spent $195.5million on social investments in the country in 2015.
The company said the sum of $145.1 million was paid to the Niger Delta Development Commission, (NDDC), from the fund as required by law while $50.4million was directly expended in social investment projects by The Shell Petroleum Development Company of Nigeria (SPDC).
The Managing Director SPDC and Country Chair, Shell Companies in Nigeria, Osagie Okunbor, who disclosed these at a press briefing in Lagos, said the spend levels were well planned.
“These spend levels have not come about by accident,” he said.
Okunbor said: “Shell and its partners believe they can make a real difference in the lives of Nigerians, and we have targeted our investments at community and enterprise development, education and health.”
According to him, the company cannot take the place of government is keen to play their own part in the development of a country which they have been part of for more than 50 years.
Mr. Okunbor said Shell Companies in Nigeria are also actively involved in the development and utilisation of natural gas, pioneering its production and delivery to domestic consumers and export markets.
He said: “Although, the SPDC Joint Venture market share of domestic gas has reduced through a series of divestments since 2010, which enabled Nigerian companies to play a more strategic role, the companies still remain a crucial part of the national gas energy mix.”
For example, he said Shell’s  Afam VI power plant alone contributed 14% of Nigeria’s grid-connected electricity in 2015, consolidating its achievements since first power in August 2008 while Shell Nigeria Gas (SNG), supplies natural gas to 87 industrial customers.
Mr. Okunbor highlighted crude theft, illegal refining and insecurity as key challenges in 2015 adding that “We are constantly monitoring the security situation in our operating areas in the Niger Delta and are taking all possible steps to ensure the safety of staff and contractors.”

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