Economy

Chevron Nigeria Reaffirms Strong Commitment to Sustainability

Published

1 year ago

October 8, 2025

Chevron Nigeria commitment to sustainability grows as the oil firm cuts gas flaring by 97% and pledges more local content investment in the Niger Delta

Chevron Nigeria commitment to environmental sustainability and economic growth has again been underlined as the oil giant reiterated its drive to cut gas flaring and carbon emissions across its Niger Delta operations.

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Speaking in Warri, Delta State, the General Manager of Corporate Affairs, Olusoga Oduselu, reaffirmed that Chevron Nigeria Limited (CNL) is strongly focused on achieving cleaner, more sustainable energy production while deepening local content participation.

Oduselu, represented by Saheed Praise Akinbola, made this known during the NUJ Media Capacity Building Programme organised in partnership with the Nigeria Union of Journalists Warri Correspondents’ Chapel.

He stated that through consistent investment in gas gathering and processing infrastructure, Chevron Nigeria had reduced routine flaring by over 97 per cent in the past decade, marking a significant milestone in the country’s drive toward energy transition.

“Besides oil exploration and production, Chevron Nigeria Limited is one of the largest contributors of high-quality domestic gas in the country,” Oduselu noted.

“We remain dedicated to lowering carbon emissions and fostering cleaner energy options for a sustainable future.”

Highlighting the company’s long-term vision, he said Chevron continues to deliver affordable and reliable energy while expanding lower-carbon businesses alongside traditional oil and gas operations.

According to him, “Chevron produces crude oil and natural gas, manufactures fuels and petrochemicals, and develops technologies that improve both our business and the wider energy industry. Our goal is clear — to keep lowering the carbon intensity of everything we do.”

Oduselu also urged the media to strengthen collaboration with the company, assuring journalists of Chevron’s openness to dialogue and factual clarification on industry-related matters.

He revealed that around 400 journalists have benefitted from Chevron’s annual media capacity-building initiative, which aims to boost professional development and strengthen public communication in the energy sector.

Beyond environmental goals, the Chevron Nigeria commitment to community empowerment remains unwavering. Oduselu pointed to the company’s Global Memorandum of Understanding (GMoU) model, which has funded hundreds of development projects across host communities since 2005.

“Through the GMoU and now the Host Community Development Trusts under the Petroleum Industry Act, Chevron continues to invest billions of naira into infrastructure, education, and health initiatives,” he said.

He further cited the Foundation for Partnership Initiatives in the Niger Delta (PIND) as a key platform supporting economic empowerment and livelihood enhancement for people in the region.

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Oduselu concluded that Chevron’s sustainability vision is rooted in long-term partnerships, local capacity development, and a shared responsibility for a cleaner, more prosperous Niger Delta.

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Economy

NRS Assures Taxpayers VAT Remains at 7.5% Amid Tax Reform Concerns

Published

19 hours ago

October 27, 2026

Peculiar Adirika

NRS VAT rate remains 7.5%, the agency says, while addressing concerns over bank deductions, loans and the implementation of Nigeria’s tax reforms

The Nigeria Revenue Service (NRS) has assured taxpayers that Nigeria’s standard Value Added Tax (VAT) rate remains 7.5 per cent, while addressing concerns over the implementation of the country’s new tax reforms.

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The assurance was given by the Tax Administrator responsible for Kano, Jigawa and Katsina states, Samaila Abdullahi, during an NRS stakeholders’ engagement and tax reform sensitisation programme in Kano.

Abdullahi said concerns raised by individuals, traders, business owners and other stakeholders about the new tax laws were understandable, particularly questions relating to bank transactions, loans, family transfers, business income and the potential impact on small businesses.

He urged taxpayers to understand the reforms through the provisions of the law rather than rely on assumptions or misinformation.

According to him, the tax laws do not automatically authorise deductions from personal bank accounts.

He stressed that tax collection and recovery must follow the applicable legal provisions and procedures.

Abdullahi also clarified that money received as a loan should not automatically be classified as business income or profit, explaining that proper documentation is essential to establish the nature of a transaction.

“For instance, when a trader receives a loan of N500,000, the amount should not automatically be treated as N500,000 in sales or profit, provided the transaction is properly documented,” he said.

The NRS official’s comments were aimed at addressing public concerns about how the new tax framework would affect personal finances and business transactions.

He emphasised the importance of distinguishing between taxable business receipts and other funds, such as documented loans, when determining a taxpayer’s obligations.

The clarification comes amid heightened public interest in Nigeria’s tax reforms and questions about their implications for individuals, traders and small businesses.