Shell Spent N39bn On Social Investments In Nigeria In 2015 – Okunbor

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Shell Spent N39bn On Social Investments In Nigeria In 2015 – Okunbor

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.

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