News
Shell Supports Nigerian Firms with $1.9Bn Contracts
Shell companies in Nigeria have awarded contracts amounting to $1.9 billion to registered Nigerian contractors within a year.
According to a 2023 Shell Briefing Note, the oil multinational also paid $1.36 billion in corporate taxes and royalties to the Federal Government in 2022.
Additionally, the oil firm contributed $79.77 million to the Niger Delta Development Commission (NDDC) during the same period.
Discussing the companies’ operations during the review period, Osagie Okunbor, country chair of Shell Companies in Nigeria, emphasized the firm’s ongoing commitment to Nigeria and its dedication to enhancing the well-being of host communities.
He noted that the Shell Petroleum Development Company (SPDC), Shell Nigeria Exploration and Production Company (SNEPCO), and Shell Nigeria Gas (SNG) invested $34.29 million in direct social initiatives in 2022.
Further, Okunbor stated that the company has set aside an additional $56.13 million, to be contributed in 2023 by SPDC and SNEPCo, as a statutory contribution to the Host Communities Development Trusts (HCDT) for the benefit of local communities.
Okunbor expressed concern about the persistent problem of crude theft and vandalism, describing it as “a serious threat to our country.”
Regarding renewable energy, the briefing note revealed that the companies committed $200 million to supporting AllOn as a renewable impact investment.
These companies also provided funds for AllOn’s expansion of the DART program and committed an additional $23 million for investment in renewable energy to be paid to AllOn Energy Company.
Regarding investments in the education sector, the note highlighted that 3,500 university grants have been disbursed, and 990 cradle-to-career scholarship grants have been awarded by companies, including Shell Nigeria Gas (SNG), since 2016.
The companies have also assisted Lagos and Bayelsa States with educational infrastructure projects valued at approximately $15 million.
The note further stated that over 92,000 individuals have benefited from the company’s Community Health Insurance scheme since its inception in 2010.
Additionally, 220 Nigerian individuals were recipients of the Shell Live Wire entrepreneurship programme.
The companies employ around 2,500 individuals, with 97 per cent being Nigerian nationals.
Moreover, approximately 10,000 contractors are supporting the operations of these companies. To aid the victims of the devastating flood that occurred in 2022, Okubor announced that Shell donated $1 million to those affected by the flood.
News
Legit.ng, Shade of Life Foundation Partner to Advance Autism Awareness in Nigeria
Legit.ng recently joined forces with the Shade of Life Foundation to become a voice of autism, and drive advocacy for improved media support during Autism Awareness Month.
Conversations around media support exploration was led by Joseph Omotayo, head of Department for Human Interest Stories at Legit.ng, and Dr. Eziafakaku Nwokolo, founder and CEO of the Shade of Life Foundation,
This partnership is a response to the concerns raised by organizations like the Shade of Life Foundation about the level of support received from the media in discussing autism as a disability.
While other disabilities may receive attention, autism, with its critical developmental implications often lacks adequate representation in mainstream media.
Recognizing the importance of addressing these concerns, Legit.ng took proactive steps by integrating itself into the essence of autism awareness.
It facilitated a one-hour workshop with Dr. Nwokolo, the founder of the foundation, to deepen our understanding of autism, its various spectrums, and the language boundaries associated with it.
Other steps we took in advocating autism awareness in the media, can be seen in our attached press release.
Legit.ng believes that by amplifying the voices of autism and advocating for better media representation, we can contribute to creating a more inclusive and accepting society for all.
News
As Nigeria Struggle, Tanzania Turns off Power Plants Due to Excess Supply
While 85 per cent of Nigeria is in darkness, Tanzania, an African country has shut down five hydroelectric stations in a bid to reduce excess electricity in the national grid.
Kassim Majaliwa, prime minister, Tanzania, has said the main plant, Mwalimu Nyerere Hydroelectric Station, alone generated enough electricity to power major cities, including Dar es Salaam, the country’s commercial hub.
It is the first time Tanzania, which suffers chronic power shortages, has closed hydroelectric stations due to excess production.
“We have turned off all these stations because the demand is low and the electricity production is too much, we have no allocation now,” an official from state-run power company, Tanesco, said.
The 2,115MW Julius Nyerere Hydropower Dam is said to be almost filled with water following heavy rains that started early this year.
Meanwhile, while the country has an installed capacity of 1,938MW and the grid installed capacity of 1,899MW, Nigeria which has an installed capacity of 13,000MW is struggling to electrify 85 per cent of its electricity consumers.
News
President Tinubu Appoints Jim Ovia as Student Loan Fund Chairman
President Bola Tinubu has approved the appointment of Jim Ovia, renowned banker and businessman, as the Chairman, Board of the Nigerian Education Loan Fund.
Ovia’s appointment is contained in a State House statement titled, ‘President Tinubu appoints Jim Ovia as Chairman of the Nigerian Education Loan Fund,’ and issued on Friday by Ajuri Ngelale, special adviser to the President, Media & Publicity.
The statement noted that “Ovia is the founder of one of Nigeria’s leading banks and a respected business leader, with a surfeit of efforts and benefaction towards nurturing and empowering young Nigerians.
“He is an alumnus of Harvard Business School and holds a Master’s in Business Administration from the University of Louisiana.”
The National Student Loan Programme is a pivotal intervention that seeks to guarantee sustainable higher education and functional skill development for all Nigerian students and youths.
The Nigerian Education Loan Fund, the implementing institution of this innovation, demands excellence and Nigerians of the finest professional ilk to guide and manage.
“The President believes Mr. Ovia will bring his immense wealth of experience and professional stature to this role to advance the all-important vision of ensuring that no Nigerian student suffers a capricious end to their pursuit of higher education over a lack of funds,” the statement partly read.
Ovia’s appointment will also ensure “that Nigerian youths, irrespective of who they are, have access to higher education and skills that will make them productive members of society and core contributors to the knowledge-based global economy of this century.”
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