Vice President Kashim Shettima recently graced the Shell stand at the 30th Nigeria Economic Summit. Accompanied by eminent personalities, he had the opportunity to interact with Chidi Nkazi, Shell’s Business Value Manager.
The meeting provided an opportunity for Nkazi to highlight the significant contributions of Shell Companies in Nigeria (SCiN) to the Nigerian economy, local content development and commitment to sustainable development.
During his presentation, Nkazi highlighted Shell’s role in promoting economic growth through its tax contributions, job creation and support for local businesses. He highlighted Shell’s collaboration with its joint ventures, which has improved the efficiency and sustainability of operations by pooling resources, sharing knowledge and mitigating risks.
Nkazi also detailed Shell’s technical expertise and how the company is leveraging its strengths to support its operations in Nigeria, driving technological advancements and operational efficiencies.
In 2023, Shell companies contributed over $1.09 billion to the federal government in taxes and royalties, including $442 million from Shell Petroleum Development Company (SPDC) and $649 million from Shell Nigeria Exploration and Production Company (SNEPCo). Additionally, SCiN awarded contracts worth $1.98 billion to companies registered in Nigeria, marking a 3% increase from the previous year.
“Shell is committed to making a positive contribution to the Nigerian economy and the communities where we operate,” said Nkazi. “Our investments not only support government revenues but also strengthen local economies and create employment opportunities.” »
Beyond its economic contributions, Shell’s social investments in 2023 have reached $42.2 million, with a focus on health, education, road safety and entrepreneurship. Since the 1950s, Shell has supported thousands of Nigerian students through scholarships, including more than 3,450 high school scholarships, 3,772 college grants and 1,062 K-2-career scholarships awarded since 2016.
“The partnership between Shell and Nigeria demonstrates our commitment to sustainable development and community empowerment,” Nkazi added. “We will continue to explore innovative ways to support economic growth and improve the lives of Nigerians.”
Shell is a co-sponsor of the Nigeria Economic Summit.