Chevron Nigeria Limited has revealed that it invested about $1.45bn in local content last year.
The company which made the disclosure in its 2019 corporate responsibility report, stated that of the $1.45bn, expenditure on materials and services obtained from local community contractors was about $358m.
According to the report, a substantial part of Chevron Nigeria’s spending on local content in 2019 supported the United Nation Sustainable Development Goals.
The company said it partnered with many indigenous companies to build and strengthen local capacity and capabilities during the execution of the major capital and small projects including Escravos Export System Project and Okan GGCP Debottlenecking Project.
“In 2019, 184 Nigerians benefited from quality training valued at over $5m in technical/professional skills and on-the-job.
A batch of four graduates nominated by the Nigerian Content Development and Monitoring Board completed a 12-month Earth Science Internship programme at CNL office and field locations,” it said.
CNL said its four-pronged approach to Nigerian content development included selection of qualified local contractors; facilitation of partnerships and alliances between indigenous companies and foreign firms; capacity building; and development of local competencies.
It said to further demonstrate its commitment to local content development, the CNL Local Content policy had been updated to also give contracting preference for competent Nigerian companies and promotion of technology transfer.
The Chairman and Managing Director Chevron Nigeria/Mid-Africa Business Unit, Jeff Ewing, said, “Chevron Nigeria remains focused on operational excellence, which drives our delivery of industry-leading performance through safe, reliable, efficient and environmentally-sound practices.”