Chevron invests over $908m in Nigerian local content in 2020
By Uthman Salami
Chevron Nigeria Limited (CNL), one of the largest oil and natural gas producers in Nigeria has revealed that the company has invested over $908 Million in Nigerian local content only in 2020.
This revelation was contained in the company’s magazine titled, “2020 corporate responsibility report enhancing progress, strengthening communities,” received by Nigerian NewsDirect yesterday.
According to the report, the company’s investment in Nigerian Content in 2020 was approximately $908 million within which “expenditure on materials and services obtained from Local Community Contractors was $267 million.”
“Chevron Nigeria demonstrates strong commitment to the socio-economic development of Nigeria by building mutually beneficial partnerships and supporting the policies of the Federal Government of Nigeria on Nigerian content development.
“We help build the capacities of Nigerian businesses by allocating substantial scopes of our major capital projects to Nigerian companies. Chevron is also helping to grow the Nigerian economy by contributing to the development of communities in our areas of operation,” the report revealed.
The company emphasised that all its efforts were geared because they believe it is the right thing to do, noting that “four- pronged approach to NCD includes: selection of qualified local contractors; facilitation of partnerships and alliances between indigenous companies and foreign firms; capacity building; and development of local competencies.
“Chevron fully complies with the Act.This business strategy establishes Chevron as a company of choice that helps to build local economies and improve the livelihood of Nigerians,” the report indicated.
Also, the report further showed that “Chevron provides technical and asset acquisition support to local community contractors as well as partnership on research and development with Nigerian companies. This has helped Nigerians to build wealth from the proceeds of oil and gas while developing local commerce and industry.
“The company partnered with many indigenous companies to build and strengthen local capacity and capabilities during the execution of the following major capital and small projects.
“Escravos Export System Project (EESP): contractors are Deltatek Offshore Limited, Fenog Nigeria Limited, and Gramen Petroserve Nigeria Limited.
“Repairs and Upgrade of Tanks: Some of the contractors involved in the project are Baywood Continental Limited, Esthon Nigeria Limited, Homik Nigeria Limited, Hopic Nigeria Limited, and De-Movick Nigeria Limited.”
