Business A.M
No Result
View All Result
Thursday, March 12, 2026
  • Login
  • Home
  • Technology
  • Finance
  • Comments
  • Companies
  • Commodities
  • About Us
  • Contact Us
Subscribe
Business A.M
  • Home
  • Technology
  • Finance
  • Comments
  • Companies
  • Commodities
  • About Us
  • Contact Us
No Result
View All Result
Business A.M
No Result
View All Result
Home Frontpage

ExxonMobil contributes N160bn to NDDC, pays N7bn tax to Akwa Ibom, says company chief

by Admin
July 29, 2025
in Frontpage, Nigeria, Nigeria Frontier Markets

ExxonMobil contributes N160bn to NDDC, pays N7bn tax to Akwa Ibom, says company chief

Ben Eguzozie, in Port Harcourt

 

ExxonMobil Nigeria upstream affiliate, Mobil Producing Nigeria (MPN), operator of the Nigerian Petroleum Corporation (NNPC/MPN) joint venture, has contributed in excess of N160 billion to the Niger Delta Development Commission (NDDC), according to Udom Inoyo, vice chairman of the oil giant.

The American multinational oil firm said it did this through tax remittances, offering of employment opportunities and contributions to the NDDC fund for development of the oil region.

It also said Akwa Ibom State, its major operational base, has benefitted N7 billion, a significant contribution to the economic development of the oil-rich state. The state also witnessed numerous development projects funded by the international oil company.

Inoyo said in Uyo, while receiving an award on behalf of his company given by the Akwa Ibom State chapter of the Nigerian Union of Journalists (NUJ), that the NNPC/MPN JV production capacity has greatly benefitted Akwa Ibom, making it to rank highest among states receiving oil revenues in Nigeria.

He pledged the oil firm’s commitment towards sustaining its contributions to Nigeria, the Niger Delta and Akwa Ibom’s development through its partnership with its key stakeholders, including the media.

The ExxonMobil Nigeria vice chairman said Akwa Ibom indigenes employed by his company constitute about 35 percent of all employees of ExxonMobil affiliates in Nigeria.

“When you drive on a newly constructed road, watch a football match in the ‘Nest of Champions’ stadium or fly the Ibom Air, all these are largely enabled by the contributions of our joint venture operatorship,” he said.

He said ExxonMobil was particularly thankful to the thousands of personnel who toil every second to bring crude oil to surface.

The IOC said on its website that its affiliates in Nigeria are involved in the exploration and production of crude oil and natural gas, and operate several joint venture concessions and deepwater production sharing contracts which currently focus on major secondary oil recovery projects; natural gas liquids and gas monetization and significant investment in national content development.

Inoyo said there are lots of activities at the national level that Akwa Ibom particularly needs to capture more opportunities from, especially in these times of prevailing in-industry competitions.

Admin
Admin
Previous Post

President Buhari promises adequate funding for Nigeria police

Next Post

Governor Ikpeazu flags off N10m micro-credit scheme in Abia

Next Post

Governor Ikpeazu flags off N10m micro-credit scheme in Abia

  • Trending
  • Comments
  • Latest
Igbobi alumni raise over N1bn in one week as private capital fills education gap

Igbobi alumni raise over N1bn in one week as private capital fills education gap

February 11, 2026

CBN to issue N1.5bn loan for youth led agric expansion in Plateau

July 29, 2025

How UNESCO got it wrong in Africa

May 30, 2017

Glo, Dangote, Airtel, 7 others prequalified to bid for 9Mobile acquisition

November 20, 2017

6 MLB teams that could use upgrades at the trade deadline

Top NFL Draft picks react to their Madden NFL 16 ratings

Paul Pierce said there was ‘no way’ he could play for Lakers

Arian Foster agrees to buy books for a fan after he asked on Twitter

Study ranks New Zealand, Japan among safest countries if global war erupts

Study ranks New Zealand, Japan among safest countries if global war erupts

March 12, 2026
AI, cloud shift redefining skills for next-generation software developers 

AI, cloud shift redefining skills for next-generation software developers 

March 12, 2026
Crude oil dips amid muted market response to EU Russian sanctions

Oil climbs toward $100 as tanker attacks heighten Middle East supply fears

March 12, 2026
Nigeria’s non-oil export earnings jump to N12.36trn amid diversification drive

Nigeria’s non-oil export earnings jump to N12.36trn amid diversification drive

March 11, 2026

Popular News

  • Igbobi alumni raise over N1bn in one week as private capital fills education gap

    Igbobi alumni raise over N1bn in one week as private capital fills education gap

    0 shares
    Share 0 Tweet 0
  • CBN to issue N1.5bn loan for youth led agric expansion in Plateau

    0 shares
    Share 0 Tweet 0
  • How UNESCO got it wrong in Africa

    0 shares
    Share 0 Tweet 0
  • Glo, Dangote, Airtel, 7 others prequalified to bid for 9Mobile acquisition

    0 shares
    Share 0 Tweet 0
  • Oyo targets 500 MW energy generation by 2027

    0 shares
    Share 0 Tweet 0
Currently Playing

CNN on Nigeria Aviation

CNN on Nigeria Aviation

Business AM TV

Edeme Kelikume Interview With Business AM TV

Business AM TV

Business A M 2021 Mutual Funds Outlook And Award Promo Video

Business AM TV

Recent News

Study ranks New Zealand, Japan among safest countries if global war erupts

Study ranks New Zealand, Japan among safest countries if global war erupts

March 12, 2026
AI, cloud shift redefining skills for next-generation software developers 

AI, cloud shift redefining skills for next-generation software developers 

March 12, 2026

Categories

  • Frontpage
  • Analyst Insight
  • Business AM TV
  • Comments
  • Commodities
  • Finance
  • Markets
  • Technology
  • The Business Traveller & Hospitality
  • World Business & Economy

Site Navigation

  • Home
  • About Us
  • Contact Us
  • Privacy & Policy
Business A.M

BusinessAMLive (businessamlive.com) is a leading online business news and information platform focused on providing timely, insightful and comprehensive coverage of economic, financial, and business developments in Nigeria, Africa and around the world.

© 2026 Business A.M

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • Technology
  • Finance
  • Comments
  • Companies
  • Commodities
  • About Us
  • Contact Us

© 2026 Business A.M