Chevron Corporation (NYSE: CVX) announced today that it is increasing
its support to the Niger Delta Partnership Initiative (NDPI)
Foundation. Chevron is committing an additional $40 million over five
years to expand a portfolio of programs and partnerships that have
successfully promoted economic development, improved the capacity of
civil society institutions, and helped reduced conflict in Nigeria’s
Niger Delta region since 2010.
The additional funding brings the total social investment in NDPI to $90
million, the single largest in the corporation’s history.
Established in-part through a five-year, $50 million endowment by
Chevron in 2010, NDPI is a special purpose foundation designed to work
in partnership with other donors from the public and private sector,
creating dynamic, multi-stakeholder partnerships to collaboratively
support a range of projects designed to help reduce poverty and conflict
in the Niger Delta region.
“Chevron recognizes that our business is fundamentally linked to
economic prosperity, sustainable development and peaceful co-existence
in regions where we operate,” said Rhonda Zygocki, executive vice
president of Policy and Planning for Chevron Corporation. “The NDPI
partnership exemplifies Chevron’s approach to social investment and
further underscores the role the private sector can play in helping
build stronger, stable communities around the world.”
This new financial commitment by Chevron, to be complemented by funding
from other donors and partners, will allow NDPI to continue building
upon its initial efforts to address the root causes of poverty and
conflict in the Niger Delta Region by expanding and scaling-up effective
partnerships and programs.
Since 2010, NDPI has directly benefited more than 10,000 people in
Nigeria’s Niger Delta region, by creating more than 600 jobs and
supporting nearly 100 local businesses. The initiative has also trained
more than 5,500 local community members and development practitioners
and engaged 172 local partner organizations in the development and
implementation of its projects.
“I am extremely proud of what NDPI has accomplished since 2010,” said
Ali Moshiri, president of Chevron Africa and Latin America Exploration
and Production Company and chairman of the board of directors of the
NDPI Foundation. “There is, however, more work to do. This funding will
boost already successful efforts as the public and private sector
continue to work together to improve quality of life and create greater
prosperity in the region.”
“Partnering is at the core of what NDPI is all about,” said Dennis
Flemming, executive director of the NDPI Foundation. “Our goal is to
continue to engage partners from both the public and private sector
donor community to leverage this $40 million and enhance our projects in
ways that will create further substantive regional impact.”
Chevron is one of the world’s leading integrated energy companies, with
subsidiaries that conduct business worldwide. The company’s success is
driven by the ingenuity and commitment of its employees and their
application of the most innovative technologies in the world. Chevron is
involved in virtually every facet of the energy industry. The company
explores for, produces and transports crude oil and natural gas;
refines, markets and distributes transportation fuels and other energy
products; manufactures and sells petrochemical products; generates power
and produces geothermal energy; provides energy efficiency solutions;
and develops the energy resources of the future, including biofuels.
Chevron is based in San Ramon, Calif. More information about Chevron is
available at www.chevron.com.
Copyright Business Wire 2014