Nigerian Firms Receive $800m Contracts from Shell

The Country Chair of Shell Companies in Nigeria (SCiN), Osagie Okunbor, says Nigerian companies were awarded 100 percent of the firm’s $800 million worth of contracts in 2020.

Okunbor made the announcement at the Association of Energy Correspondents of Nigeria (NAEC) 2021 Strategic International Conference in Lagos on Tuesday.

The conference was themed ‘Petroleum Industry Act: Energy Transition and Nigeria’s Oil and Gas Future’.

Okunbor, who spoke through Mr Ed Ubong, Managing Director, Shell Nigeria Gas (SNG), said the country must build its capacity.

In his view, this will help local industries participate more aggressively in the supply chain.

He said: “We need to reduce the industry’s reliance on imports and create new markets in-country.

“At Shell, we recognise that local content is key to surviving a post-COVID 19 pandemic world and Shell will continue to invest in this space.

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“We remain committed to building capacity and competence in country to enable more Nigerians to participate directly and indirectly in the gas value chain and pump more money into the local economy by supporting Nigerian companies.

“Shell assists Nigerian companies to achieve the necessary certification for their products and services to ensure that they qualify for tenders and contracts to provide goods and services across its operations and the Nigerian oil and gas.

“In 2020, 100 per cent of SCiN contracts, worth $800 million, were awarded to Nigerian companies.

“SCiN has also provided access to nearly $1.5 billion in loans to 764 Nigerian vendors under the Shell Contractor Support Fund since 2012.”

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Okunbor said these loans had helped to improve their tendering opportunities.

Shell is also expanding its gas portfolio to supply Nigerian and international customers of gas through a network of plants, pipelines, and export terminals.

According to Okunbor, they were being developed with joint venture partners, the Nigerian government, and communities.

He said: ” Harnessing our vast gas resources is key to development of the country.

“Natural gas gives us the ability to lift millions of people out of energy poverty, giving them the power to improve their physical health, wellbeing and standard of living.

“It also gives us a pathway to economic growth and development.

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“This is not only through direct exploration and trading of gas resources but by providing reliable power supply for the manufacturing and industrial sectors which are the major growth engines for developing economies.”

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