Upon request by The Embassy of South Korea, Nigeria LNG Limited (NLNG) recently gave a presentation on its model of corporate social responsibility (CSR) to the country’s Business Community in Nigeria, revealing strategies and key CSR success factors of the company.
The invitation of the Embassy was inspired by the enviable impact of NLNG’s efforts in improving the lives of its host communities and numerous other stakeholders in the country.
Speaking at the presentation, Dr. Kudo Eresia-Eke, NLNG’s General Manager, External Relations, said the main secret to the company’s CSR success was its commitment to being a trusted partner with all its stakeholders for the sustainable development of Nigeria and its host communities.
Dr. Eresia-Eke attributed NLNG’s success to its corporate values of Integrity, Excellence, Teamwork and Caring, especially the company’s ability to listen to the stakeholders, learn from them, be fact-based, think sustainability and put the people and country first in all its CSR considerations.
Dr. Eresia-Eke said, ‘We are pleased for the opportunity to present our CSR model to the leadership of the Korean Embassy and business community. We view the invitation to do so as welcome recognition of the unique and effective projects we run in the communities and elsewhere as part of our corporate vision of a global LNG company helping to build a better Nigeria.”
Dr. Eresia-Eke illustrated with some of the company’s programs/projects including sponsorship of the most prestigious literary and science prizes in Africa, The Nigeria Prize for Science and The Nigeria Prize for Literature which come with cash prize of $100,000 each; the $12 million University Support Programme through which it is implementing the construction and equipping of engineering laboratories in six selected Nigerian universities drawn from the country’s geo political zones, to mention a few.
The General Manager also paid glowing tributes to NLNG’s host communities for their support and cooperation in providing the conducive environment for the company to do business, and actualize its CSR initiatives.
The Korean Ambassador to Nigeria, His Excellency, Noh Kyu-duk, who led the delegation of top Korean diplomats and senior executives of the major Korean companies in Nigeria commended the CSR work of the company and thanked the company for honoring its invitation.
Korean companies represented at the presentation included Samsung, Daewoo, Hyundai, and Korean Energy Management Company Limited (KEMCO).
Nigeria-South Korea trade and bilateral relationship have continued to grow since the formal establishment of ties in 1980. Today, the volume of trade between both countries has risen to over $4 billion, while Nigeria has also become South Korea’s 52nd largest export market and its 30th biggest source of imports.
Only recently, Nigeria LNG acquired six new build Dual Fuel Diesel Electric vessels from South Korea’s Samsung Heavy Industries (SHI) and Hyundai Heavy Industries (HHI) at a cost of $1.6billion.
NLNG is owned by four shareholders, namely, the Federal Government of Nigeria, represented by the Nigerian National Petroleum Corporation, NNPC (49%), Shell Gas BV, SGBV, (25.6%), Total LNG Nigeria Limited (15%), and Eni International (N.A,) N. V. S. a. r. l (10.4%).