Chevron spends N480bn yearly on Nigerian operations

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chevron_logoChevron Nigeria Limited spends more than $3 billion (N480 billion) yearly in its operations and had invested $4 billion (N640 billion) in the economy through contracts for goods and services, employment and regulatory fees.

The company made this disclosure in its 2012 Corporate Responsibility Report made available to The Guardian at the weekend.

The report highlights how in the past year, the company has contributed to the social and economic development of Nigeria, through effective partnerships with various stakeholders.

General Manager, Policy, Government and Public Affairs, Deji Haastrup, noted that the report shows the company’s achievements in key areas including, stakeholders’ engagement and social investments; health, safety and environment; human resource development; and Nigerian content development.

“It also highlights the philosophy that guides Chevron Nigeria’s long-term social investments in Nigeria and shows how The Chevron Way guides its behavior. “We take pride in our accomplishments, and are happy to communicate the values that make us who we are and why communities where we operate welcome us,” Haastrup said.

According to the report, more than 18,500 people benefitted from the company’s River Boat Clinic programme in 2012; while 3,924 students studying medicine, dentistry, pharmacy, engineering, medical laboratory sciences and nursing joined the Agbami Medical and Engineering Professionals Scholarship  programme in 2012.

It stated: “As at end of 2012, the Nigerian Content value of the Escravos Gas-to-Liquids (EGTL) project approached 40 per cent of project spend. This is approximately $4 billion invested in the regional economy through contracts for goods and services, employment and regulatory fees. In addition, projects worth more than $22.3 million were executed by the Regional Development Committees under the Global Memorandum of Understanding”.

It noted that the company through the EGTL project, has contributed to the growth of many Small and Medium Scale Enterprises in Delta State, especially those in the agricultural sector.  Many businesses have benefitted directly or indirectly from the huge demands for fish and poultry products consumed by thousands of people working on the EGTL site every day”, it added.

The report stated: “Chevron Nigeria is the third largest oil producer in Nigeria and one of its largest investors, spending more than $3 billion annually. The company has continued to focus on ‘ZERO’ incident objective and implemented leading programmes to improve its performance with renewed vigor and emphasis on process safety. In 2012, the company contributed $375,000 to the Nigerian Conservation Foundation (NCF) to support the Foundation’s programmes including the running of the Lekki Conservation Centre”.

 

Information from Guardian was used in this report.