Shell Companies in Nigeria awarded $1.98 billion worth of contracts to indigenous firms in 2023, reflecting a 3% increase from the $1.92 billion recorded in 2022.

At the 13th Practical Nigerian Content Forum in Bayelsa State, SNEPCo’s Managing Director Ron Adams, represented by Olaposi Fadahunsi, explained that the contracts have enabled local firms to expand operations and enhance technical expertise.

He noted, “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.”

Beyond contracts, Shell collaborated with joint venture partners, including the Nigerian National Petroleum Company Limited (NNPCL), to execute developmental projects such as a digital library at Niger Delta University and an IT hub at the Federal University of Technology.

NNPCL, on its part, emphasized the importance of empowering local firms while addressing global demands. Udobongo Ntia, the company’s Executive Vice President, remarked, “We have a shared responsibility to empower local firms and drive innovation to ensure a robust oil and gas sector.”

READ ALSO:Shell commits to supporting indigenous companies

The Group Chief Executive Officer (GCEO) of the company, Mele Kyari, who was represented by the Executive Vice President, Upstream, Mr. Udobong Ntia, stressed the significance of the PNC Forum as a unique opportunity for stakeholders to reflect on progress, share best practices, and identify strategic opportunities for growth.

He said: “The PNC has spawned several initiatives to address stakeholder concerns and maximize the benefits of our rich resources. We have a shared responsibility to empower local firms and drive innovation to ensure a robust oil and gas sector that meets both local and global demands.”