Shell Expends $195.5million on Social Investment in Nigeria

Shell Petroleum Development Company, SPDC, spent about $195.5 million on social investments in Nigeria in 2015, the Managing Director, Shell Group of Companies in Nigeria, Osagie Okunbor, stated this on Sunday, June 19.

The oil firm MD, who is also Shell Country Chair, disclosed this in an interactive session with newsmen in Lagos. He said the amount made Nigeria the largest concentration of social investments spending in the Shell Group.

He said that $145.1million 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).’’

According to Okunbor, these spend-levels have not come about by accident.

“Shell and its partners believe they can make a real difference in the lives of Nigeria, and we have targeted our 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.

The country chair said that the Shell Group would continue with its contributions to developing the country’s human and contracting capacities.