Shell Nigeria has reaffirmed its commitment to the Nigerian content initiative in the oil and gas industry, saying the initiative was good not only for Nigeria but for the multinational companies’ businesses. Speaking recently in Lagos during an investment summit hosted by Shell for some 100 Nigerian and British companies, the Managing Director of Shell Nigeria Exploration and Production Company (SNEPCo), Mr. Chike Onyejekwe, disclosed that Shell companies in Nigeria awarded contracts worth $2.4billion to Nigerian companies in 2012. Onyejekwe said the figure was $1billion higher than the value of contracts awarded to Nigerian companies by the oil giant in 2011. Local content is good for Nigeria and for the business and we are determined to raise the game,” he added. Also speaking, the British High Commissioner to Nigeria, represented by Mike Purves, said he was overwhelmed by the quality of attendees at the event, adding: “It shows that the symbiotic commercial interest between Nigeria and Britain is profitable.”
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