Home > World news > How to use money wisely- Chevron spends N5.6bn on scholarships

How to use money wisely- Chevron spends N5.6bn on scholarships

As part of its corporate social responsibility, local unit of American oil giant, Chevron Nigeria Limited (CNL) spent a princely sum of N5.6 billion on scholarships between 2009 and 2015, for 15,356 young Nigerians, its General Manager, Policy Government and Public Affairs, Mr Deji Haastrup

For 2015 alone, a total of N186 million was spent on various scholarship schemes on 2, 406 student beneficiaries, while over N250 million was given
to Regional Development Committees (RDCs) – a cluster of communities close to its operations.

Haastrup, who spoke in Asaba, Delta State capital during CNL’s 11th Edition of the National Art Exhibition Competition Prize/Award giving ceremony also said over 14, 000 students have benefited from the Agbami Medical and Engineering scheme funded by its subsidiary, Star Deepwater Petroleum Limited.

Haastrup said Chevron’s social investment cut across education, health and economic empowerment, adding that education is the key to unravelling the potential of youths and developing their capacity for societal relevance.

He added that investment in education covers community and national scholarships awards to Nigerian students in secondary and tertiary institutions, infrastructural support including classroom, libraries laboratories and sponsorship of competitions and programmes to motivate students and boost their confidence.

Delta State Deputy Governor, Kingsley Otuaro, commended the NNPC/Chevron joint venture in firing up the creative potential of the students/youths, noting that this will make them purpose-driven and keep them away from becoming oil facility vandals and engaging in other vices.

Otuaro explained that company has shown commitment to development of its host communities through Regional Development Council (RDC) arrangement where resources consistently deployed by the company have enabled communities to put up plans for their own development.

Leave a Reply