Chevron Invests $1 Billion Annually in Nigerian Content, Pledges More Domestic Gas Use

Chevron Nigeria Limited (CNL) announced a decade-long investment of around $1 billion annually in Nigerian content development, alongside a commitment to boost domestic gas utilization. Oduselu Olusoga, General Manager of Corporate Affairs, shared these details during an oil and gas reporting workshop in Asaba.

Represented by Dr. Anyaegbudike Victor, manager of communications, Chevron highlighted its community partnerships in the Niger Delta through the Global Memorandum of Understanding (GMoU) model. This model grants communities greater control over their development, allowing them to set priorities and create five-year plans, with Chevron providing funding and NGO support.

The GMoU's principles of participation, transparency, accountability, sustainability, and capacity building have influenced the Host Community Development Trust provisions in the Petroleum Industry Act. On Nigerian content, the company stated its activities have fostered the growth of indigenous contractors in the region.

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The company had undertaken gas gathering projects, including the Meji and Escravos projects, to reduce gas flaring and make more gas available for domestic consumption.

Speaking on energy transition, Olusoga described gas as Nigeria's key transitional fuel. Chevron is actively working to increase its domestic availability through projects like Meji and Escravos, aimed at reducing gas flaring. The company also confirmed ongoing exploration activities and partnerships with other major oil firms, reaffirming its long-term commitment to Nigeria's energy sector.

The Nigeria Union of Journalists (NUJ) Delta State Council chairman, Comrade Churchill Oyowe, expressed delight in partnering with CNL on the capacity-building program, recognizing the oil and gas industry's vital role in Nigeria's economy and development. He stressed journalists' responsibility to provide accurate and well-contextualized information.

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Chevron’s commitment to Nigeria. The company remained active across onshore, shallow-water, offshore and deep-offshore operations. Right now, we are not going anywhere,”