Shell Group of Companies in Nigeria spent no less than $195.5 million (N39 billion) on social investments in the country in 2015, the Managing Director Mr Osagie Okunbor said on Sunday in an interactive session with newsmen in Lagos.
According to him, $145.1 million of this amount was paid to the Niger Delta Development Commission (NDDC) as required by law. Another $50.4 million was expended on social investment projects by the Shell Petroleum Development Company of Nigeria (SPDC) Limited operated by Joint Venture and Shell Nigeria Exploration and Production Company (SNEPCo).
Okunbor said these high levels of spending have not come about by accident, as Shell and its partners believe they can make a real difference in the lives of Nigeria, and have, therefore, targeted its investments at the community and enterprise development, education and health.
“Of course, we cannot take the place of government but we are keen to play our part in the development of a country we’ve been part of for more than 50 years,” he said.
He promised that the Shell Group would continue with its contributions to developing the country’s human and contracting capacities. He said that $900 million had also been spent on local contracting and procurement.