Shell Awards $1.98 Billion Contracts to Boost Nigeria’s Local Content Drive
Shell, a global oil major, has reaffirmed its commitment to enhancing Nigeria’s local content development, disclosing the award of contracts worth $1.98 billion to indigenous companies in 2023.
This milestone represents a three per cent increase from the $1.92 billion contracts awarded in 2022, underscoring Shell’s dedication to empowering Nigerian businesses and building local expertise in the oil and gas sector.
The announcement was made at the ongoing 13th edition of the Practical Nigerian Content forum, hosted in Yenagoa, Bayelsa State, by the Nigerian Content Development and Monitoring Board (NCDMB).
The four-day conference, themed “Deepening the Next Frontier for Nigerian Content Implementation,” brings together over 700 oil and gas entities to review progress made since the enactment of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act in 2010.
Representing Shell Nigeria Exploration and Production Company Limited (SNEPCo) Managing Director Ron Adams, the Business Opportunity Manager for the Bonga South-West Aparo Project, Olaposi Fadahunsi, highlighted the transformative impact of the contracts on local businesses.
“Shell companies execute a large proportion of their activities through contracts with third parties, and Nigeria-registered companies have been key beneficiaries of this policy aimed at powering Nigeria’s progress,” Fadahunsi stated.
Fadahunsi also lauded the NCDMB for its efforts in enforcing compliance with the Nigerian Content Act, ensuring that indigenous companies thrive in the oil and gas industry.
In addition to contract awards, Shell has invested significantly in human capital development through initiatives such as the Niger Delta University learning centre and digital library project, as well as the Federal University of Technology Information Technology Hub, inaugurated this year in collaboration with SPDC Joint Venture partners – Nigerian National Petroleum Company Limited (NNPC), TotalEnergies, and Nigeria Agip Oil Company Limited (NAOC).
Other landmark projects include the University of Lagos Geosciences Centre of Excellence, the Nigeria Diving School, and ongoing research funding at the University of Ibadan aimed at developing a synthetic-based drilling fluid.
Shell has also maintained a robust scholarship programme, awarding over 3,772 undergraduate and 109 Niger Delta postgraduate scholarships since 2016.
Fadahunsi revealed that beneficiaries of the 13th edition of the Niger Delta Postgraduate Scholarship awards are currently pursuing studies in the United Kingdom, with a remarkable 98% employability rate upon completion.
“Beneficiaries of these scholarships have secured employment in the oil and gas industry, academia, and Information Technology sectors within a year of graduating.
Nigerian content will continue to be an important part of Shell operations,” Fadahunsi affirmed.
Source: Oriental News
