Nigeria: Oando Tops CSR Report List

Oando

VENTURES AFRICA – A report designed to analyse the performance of the listed petroleum products marketing companies (PPMCs) in Nigeria has placed Oando Plc as number one in the area of Corporate Social Responsibility (CSR), with its contributions towards welfare and social services up to the tune of N72.3 million ($446,434).

 

 

Accroding to the report, the amount respresented 77 percent of the total charitable contributions recorded by the seven PPMCs and a 904 percent gap betrween the next company’s charitable contributions in 2010.

 

MRS Oil Nigeria Plc was ranked second with charitable contributions worth N7.4 million ($46,000), while Mobil Oil Nigeria Plc placed third withN4.4 million ($27,168).

 

In terms of classification, the industry’s highest donation went to security and safety as it gulped N51 million ($315,000) or 55 percent of total charitable contributions in 2010.

 

Art and culture was second with N9.45 million ($58,351) from the seven companies representing 10 percent of total charitable contribution.

 

According to BusinessDay, Foundations ranked third with N7 million ($43,223), while sports received the least donation of N0.1 million.

 

 

The reports also depicts the sectors where the oil marketer’s contribution were focused. Eterna Plc reportedly chanelled about 37 percent of its charitable contributions to community development, Mobil to foundations, MRS to art and culture, Total Nigeria Plc to orphanage homes, while Forte Oil’s contributions were pirmarily channelled to associations and clubs.

 

About 71 percent of Oando Plc’s charitable contributions went to security and safety in form of donating Auto Gas Oil (AGO) and Premium Motor Spirit (PMS) to the Lagos State Security Trust Fund and support to build Mopol 22 Project Office.

 

 

Players in the oil and gas industry have been repeatedly charged to display high level of responsibility to host communities in terms CSR activities and preservation of the environment.

 

The ranking is contained in the maiden edition of the Nigerian Petroleum Marketing Companies’ Disclosure Report published by BusinessDay’s Research Unit.

 

 

 

 

 

 

THISDAY