By Adedapo Adesanya
Shell has disclosed that Nigeria benefited most from its social investment spending in 2019 as it invested $40 million through its three subsidiaries operating in the country.
This was disclosed in its Nigerian Briefing Notes released on Thursday. Shell said the investments were done through Shell Petroleum Development Company (SPDC), Shell Nigeria Exploration and Production Company (SNEPCO), and Shell Nigeria Gas (SNG).
They were used in the provision of access to affordable healthcare, educational support, enterprise support, accelerating access to energy, and providing assistance and safety.
The multinational company explained in the last 14 years, it has invested $252 million in community-driven programmes of which there are 667,000 beneficiaries in its health outreach beneficiaries, adding that it has given out 6,000 university grants since 2011.
According to the company, Nigeria is a thriving and vibrant country, offering opportunities for people to improve their livelihoods, adding that the scale of the opportunity was mirrored by the scale of the challenges to provide affordable energy, education, healthcare and conditions for local businesses to grow.
According to Shell, the companies undertake two types of social investment activities: direct social investment and community development programmes across Nigeria. The former, it noted focuses on community and enterprise development, education, community health, access-to-energy, road safety and since 2018, biodiversity.
The companies, it said, also undertake community-driven development programmes and initiatives in the Niger Delta, which focus on various themes as determined by benefitting communities and delivered through a Global Memorandum of Understanding (GMoU), adding that are currently 39 active GMoUs in Abia, Bayelsa, Delta, Imo and Rivers States.
In 2019; Shell noted that three new GMoUs were deployed and 10 GMOUs renewed. These GMoUs provide secure five-year funding for communities to implement development projects of their choice.
According to Shell, since 2006, a total of $252 million had been disbursed to communities through these GMoUs, noting that GMoU projects cover community health, education, enterprise development and social infrastructures, such as improved water and power supply, and sanitation.
In the area of education, Shell said: “Educating Nigeria’s young population is critical to the success of the country. Shell Companies in Nigeria have a long history of supporting education through scholarships and other initiatives. Since the 1950s, the Shell scholarship schemes have supported several thousands of students many of whom are among Nigeria’s business, political and social leaders.
“In 2019, the SPDC JV and SNEPCo invested $7.8 million in scholarships. Since 2011, the schemes have awarded more than 9,400 secondary school grants and over 6,000 university grants to students.”
In the area of Enterprise support, the company said: “Shell works to improve the chances for Nigerians to achieve their ambitions. In addition to providing access to loans to small and medium businesses which could become Shell suppliers and contractors, there is also the LiveWIRE youth enterprise development programme.
“LiveWIRE was launched in Nigeria in 2003 and provides training and finance to young people between the ages of 18-35 to start or expand their own businesses.
“In 2019, 140 people benefitted from the LiveWIRE programme, receiving training in enterprise development and management, as well as business start-up grants. More than 7,000 Nigerian youths have so far been trained under the programme and almost 4,000 young entrepreneurs were provided with business grants.”
more recommended stories
Oil Firm Builds Skills Acquisition Centre for Physically-Challenged in Ekiti
By Adedapo Adesanya Total Upstream Nigeria.
Police Restricts Vehicular Movement in Edo for Guber Election
By Modupe Gbadeyanka Vehicular movement has.
FG Launches Central Database for Stolen Asset Tracing
By Adedapo Adesanya The federal government.
Edo 2020: CNPP Blasts FG over ‘Vote Buying by Proxy’
By Modupe Gbadeyanka The Conference of.
Kaduna Court Convicts ATM Fraudster
By Dipo Olowookere A court in.
BUA Gives N100m to Kebbi Flood Victims, N350m to CACOVID
By Dipo Olowookere The sum of.
Two Kwara Lecturers in EFCC Custody for Cyber Crime
By Modupe Gbadeyanka Two lecturers in.
Heritage Bank, FAMO Empower Private School Teachers, SMEs
By Modupe Gbadeyanka For about six.