Business
WED 2024: CNL’s Commitment To Sustainability, Restoration
Since 1973, June 5 every year has been celebrated as World Environment Day (“WED”); a day set aside to raise awareness and promote actions to address environmental issues including marine pollution, overpopulation, global warming, sustainable development, wildlife crime, among others.
The focus for this year is on land restoration, desertification and drought resilience under the slogan “Our land. Our future. We are #GenerationRestoration.”
Chevron Nigeria Limited (“CNL”), operator of the joint venture between the Nigerian National Petroleum Company Limited and CNL, identifies with this global action as it aligns with our commitment to protecting the environment while providing affordable, reliable, and ever-cleaner energy that enables human progress.
CNL’s operations are conducted with sound environmental management practices in compliance with all applicable laws and regulatory requirements, stakeholder expectations and best industry practices.
This commitment to environmental stewardship, is a key part of CNL’s Operational Excellence integral to project planning and assets life cycle management.
CNL places the highest priority on the safety of the people and the environment in its areas of operation.
Jim Swartz, CNL’s Chairman and Managing Director (“CMD”), explains that the theme for the year is consistent with the company’s values and environmental principles anchored on considering the environment in decision making, minimizing environment footprint, operating responsibly, and stewarding our sites. “We take proactive measures to prevent negative environmental impacts when we do every task or plan projects. We identify and manage risks to the environment and reduce potential environmental impacts throughout the life of our assets.”
Jim speaks further on the company’s focus on environmental stewardship, “We protect the environment through responsible design, development, operations and improve the integrity and reliability of our systems. We work to decommission, remediate
and reclaim applicable sites, following environmental procedures and best practices.”
The CMD also affirms CNL’ s dedication to achieving world class environmental excellence through its risk management process. We apply our Environment Risk Management process to identify, assess, mitigate, and manage environmental, community health, and social risks related to our operations, he said.
“We also conduct regular environmental monitoring of the biodiversity in our onshore, offshore, and deep-water areas, including vegetation, wildlife, fishery, and marine mammals. We use a risk-based approach to manage water and biodiversity risks throughout the life-cycle of our assets and business.
Esimaje Brikinn, General Manager, Policy, Government and Public Affairs said the company also partners with local communities in its areas of operation to raise awareness and cooperation in implementing environmental sustainability actions.
According to him, CNL’s waste management philosophy covers the entire life cycle of waste and ensures that all the wastes generated from its operations are managed responsibly from cradle to grave, applying its third-party Waste Stewardship process as applicable.
Esimaje cites the company’s mangrove restoration program to demonstrate its dedication to environmental stewardship and proactive approach to addressing the challenges of ecosystem restoration in the Niger Delta. “As part of our restoration efforts, we successfully restored approximately 18 hectares of land at different sites in our Western Area of operations which suffered fire incidents due to third party interference. The mangrove restoration also enabled CNL to impact the community positively through training of community women on identification of viable mangrove propagules, raising them in the nursery for transplanting of thousands of mangrove seedlings.”
CNL, he added, continues to demonstrate its commitment to environmental stewardship through its lower carbon strategy, focused on lowering the carbon intensity of its operations by implementing methane detection and reduction capabilities. This has enabled CNL to reduce routine gas flaring by over 97% in its operations in the past 10 years, showing its environmental responsibility.
As a corporate member of the Nigerian Environmental Society, CNL promotes the engagement and commitment to environmental protection actions in Nigeria. In 1992, the company, in partnership with the Nigerian Conservation Foundation (“NCF”), established the Lekki Conservation Centre, as a center of excellence in environmental research and education, which is also reserved as a sanctuary for the rich flora and fauna of the Lekki Peninsula.
Other initiatives include its support for the yearly postgraduate research grants for two PhD students in environment and conservation, instituted by the NCF; the annual S.L. Edu Memorial Lecture to promote environmental management awareness, and partnership with the Lagos State Government and NCF to sponsor the annual Walk for Nature event to create awareness for nature conservation and environmental issues.
According to Esimaje, “CNL’s efforts in environmental stewardship have continued to be recognized and applauded in the Nigerian oil and gas industry. CNL has a long history of working in collaboration with regulators and relevant stakeholders to identify and protect biodiversity in its areas of operation.”
As the world focuses on restoring land, preventing desertification, and coping with drought, CNL remains focused on its environment strategy “to further our ability to help protect and enhance biodiversity, manage waste generation and circularity, reduce air emissions, manage water resources and manage asset retirement requirements,” says Jim Swartz.
President and Chief Executive of Dangote Industries Limited (DIL), Aliko Dangote, has announced plans for the Aliko Dangote Foundation (ADF) to collaborate with state governments to empower vulnerable women across Nigeria through participation in the Dangote Petroleum Refinery and Petrochemicals Limited (DPRP) Initial Public Offering (IPO).
Dangote made the announcement in New York during the 81st United Nations General Assembly (UNGA) while responding to a question from the Secretary to the Yobe State Government, Dr. Goje Mohammed.
The discussion focused on how partnerships between government and the private sector can help conflict-affected communities, particularly widows, build sustainable financial futures through investment opportunities.
READ ALSO: NGX Invest Expands Primary Market Access with WhatsApp Subscription Channel
According to Dangote, the Foundation will work closely with state governments to ensure that women from vulnerable groups, including widows and victims of conflict, can take advantage of the refinery’s share offering and begin building long-term wealth through equity ownership.
The initiative is designed to expand access to Nigeria’s capital market by giving women who might otherwise be excluded the opportunity to become shareholders in one of Africa’s largest industrial enterprises.
Speaking on the programme, Dangote revealed that the Foundation plans to provide additional support to participating women by donating shares to complement their investments.
“We are partnering with state governments to ensure that widows and other vulnerable women are able to buy shares in the refinery,” he said.
He explained that women who purchase shares under the IPO will receive an additional allotment of shares from the Foundation, helping them establish a long-term financial asset.
“Beyond enabling them to buy shares, the Foundation will also support them by donating additional shares that they can hold as savings for the future,” Dangote noted.
The programme targets up to two million women nationwide, making it one of the largest financial inclusion and women’s empowerment initiatives linked to Nigeria’s capital market.
“We are looking at reaching about two million women through this initiative,” he added.
The proposed intervention forms part of the broader objectives of the Dangote Refinery “People’s IPO,” which seeks to democratise ownership of the landmark refinery and enable more Nigerians to share in the value created by one of the country’s most significant private-sector investments.
The initiative is expected to have particular significance for conflict-affected states such as Yobe, where many widows and vulnerable households continue to face economic challenges resulting from years of insecurity. By facilitating access to investment opportunities, the partnership aims to provide a pathway to sustainable wealth creation and long-term financial security.
Dangote emphasized that collaboration between the Foundation and state governments will create a structured framework for supporting vulnerable women to participate in the IPO, reinforcing the role of investment and equity ownership as tools for economic empowerment, financial inclusion and social development.
Through this initiative, the ownership opportunity presented by the Dangote Refinery IPO will be extended to some of Nigeria’s most vulnerable women, helping them build assets, secure their futures and participate directly in the growth of a landmark national enterprise.
The Nigerian Exchange Group (NGX Group) has expanded access to its NGX Invest platform with the launch of a WhatsApp subscription channel.
Biztellers reports that it provides investors with an additional, convenient way to participate in public offers.
A statement from the company has it that investors can begin the subscription process by sending “Invest” to NGX Invest on WhatsApp at +234 812 731 9521. They can then follow the prompts to view eligible offers and complete the required subscription steps without downloading a separate application. As part of the process, investors will select a stockbroker through whom their application will be processed, ensuring that brokers remain an integral part of the investment journey.
READ ALSO: Dangote IPO Will Spread Wealth Across Nigeria – Emir Sanusi
The new channel extends NGX Invest’s growing distribution ecosystem, which connects issuers to investors through more than 100 distribution channels, including stockbrokers, banks, fintechs, mobile operators and other financial institutions via API connectivity.
By integrating WhatsApp into NGX Invest, the NGX Group is reducing friction in the investment process and bringing primary-market opportunities closer to investors through a platform they already use every day. For issuers, the integration provides an additional route to reach a broader pool of potential investors and support more efficient capital raising.
The development forms part of NGX Group’s broader strategy to use technology, partnerships and open distribution infrastructure to widen participation in Nigeria’s capital market.
Security remains central to the design of the investor journey. While WhatsApp provides the interface through which investors can access the service, subscriptions are processed through NGX Invest’s secure, regulated infrastructure. Investors are encouraged to interact only with the official NGX Invest WhatsApp number and should never share passwords, PINs, OTPs or other sensitive credentials with third parties.
As digital participation in Nigeria’s capital market grows, NGX Group remains focused on ensuring that increased access is supported by secure, transparent and regulated market infrastructure. The addition of WhatsApp combines the convenience of a familiar consumer channel with the safeguards required for participation in regulated public offers.
With WhatsApp now part of its distribution ecosystem, NGX Invest is further expanding the infrastructure through which investors can discover and participate in primary-market opportunities, while enabling issuers to reach a wider investing public.
The $800m Final Investment Decision (FID) on the Ima Gas Project (IGP) has been warmly welcomed as a major milestone in efforts to unlock Nigeria’s gas resources for industrialisation, job creation and economic growth.
President Bola Tinubu applauded the development, according to the Special Adviser to the President on Information and Strategy, Bayo Onanuga, in a statement in Abuja, on Wednesday.
READ ALSO: Refineries, Exports Lift Nigeria’s Foreign Reserves over $55bn
The statement has it that the project, developed by Nigerian independent exploration and production company, AMNI International, in partnership with TotalEnergies, is expected to produce about 300 million standard cubic feet of gas per day at peak.
It added that the Ima gas resource, located offshore in Oil Mining Leases 112 and 117, was discovered in 1973 but remained undeveloped for more than five decades.
The FID, announced on Wednesday, is expected to pave the way for the development of the resource, which has the potential to provide feedgas for the Nigeria LNG Limited.
According to the statement, Tinubu said the development demonstrated the impact of creating a predictable and competitive environment for investors.
He stated, “For more than fifty years, the gas beneath Ima remained a resource with enormous potential, but potential alone does not create jobs, finance businesses or improve the lives of our people.
“Our responsibility has been to create the conditions that turn Nigeria’s natural resources into productive investments and economic opportunities.”
The President added, “The Final Investment Decision on Ima demonstrates what is possible when we provide investors with a competitive, predictable and enabling environment.
“We are determined to unlock more of Nigeria’s gas resources to power our industries, expand our exports, create jobs and build lasting prosperity for our people.”
The President said that for decades, Nigeria has had one of Africa’s largest gas resource bases, although significant volumes have remained undeveloped.
He added that this administration’s gas strategy is focused not only on increasing gas production but also on putting the resource to productive use by supporting LNG exports and foreign exchange earnings, providing feedstock for industries, enabling fertiliser and petrochemical production, improving power supply and creating opportunities for Nigerian businesses and workers.
“Natural resources have value only when they are converted into opportunities for our people.
“Our goal is to ensure that Nigeria’s gas powers Nigerian prosperity,” the President said.
Dangote to Support Two Million Women with Refinery IPO Share Ownership
NGX Invest Expands Primary Market Access with WhatsApp Subscription Channel
Kainji–Birnin Kebbi Power Line: TCN Begins Final Phase of Restoration
2027 Polls: ‘Poor Funding Could Undermine Election Security, Logistics’ — INEC Chairman Warns
N4bn Compensation Dispute Threatens Ikot Abasi Power Project
Organised Labour Supports Workers’ Demand for N500 PMS Price, N500,000 Minimum Wage
Trump’s Family Unveils New Cryptocurrency Platform
Senate Denies Receiving Petitions Against Tinubu’s Ambassadorial Nominees
Dangote Cement Lights Up Benue Host Communities With CSR Initiatives
Reps Recommend 3-year Jail Term For Aviation minister
Tems Sets New Record On Billboard Hot 100 Chart
