Siemens Nigeria has restated its commitment to supporting sustainable development in Nigeria through its Business to Society, (B2S) initiative.
Siemens said its support for sustainable development in Nigeria was driven by its Business to Society initiative which is focused on achieving societal, economic and environmental advancements areas such as economic development, environmental sustainability, developing local jobs and skills, providing value-adding innovation, improving quality of life and positive societal transformation.
Speaking about the initiative, CEO, Siemens Nigeria, Onyeche Tifase said, “Our Business to Society initiative represents the multi-dimensional ways we approach creating real value in the lives of Nigerians and Nigerian communities.
“At Siemens, we appreciate how critical it is for businesses to impact on their stakeholders and society in a positive and sustainable manner. We are proud of our heritage and business in Nigeria, but beyond profits, we measure our success in the broader context of the significant value we have added over the last 50 years” she affirmed.
Since 1970, Siemens’ technology, products and services have contributed to driving the Nigerian economy.
According to the latest Business to society (B2S) report prepared by Pricewaterhouse Coopers (PwC), in 2019 alone, Siemens contributed a total of $562.5 million in Gross Value add (directly and indirectly) to Nigeria’s GDP through constructive engagement with industries especially in the Oil & Gas, Manufacturing and utilities sectors.
The B2S report also revealed that Siemens technology has contributed nine percent to Nigeria’s operational power generation installed capacity.
Furthermore, the widely acclaimed partnership agreement between Siemens and the Federal Government for the Presidential Power Initiative (PPI) is set to upgrade the electricity grid network and increase operational capacity from 4,500 MW on an average currently, to 25,000 megawatts (MW).
According to Tifase “This is a demonstration of our commitment at Siemens to make significant investments in providing value-adding initiatives to address challenges in Nigeria’s power sector.”
Siemens Nigeria remains a strong partner to the Nigerian government in developing local jobs and skills. The company has positively impacted employment with an estimated number of 48,000 jobs linked to Siemens’ business operations in Nigeria.
Furthermore, as part of their commitment to shaping societal transformation, Siemens is taking a leading role in supporting the government’s commitment to fight corruption and improve transparency in the public and private sector.
The B2S report stated that Siemens Integrity Initiative (SII) has invested about $1.29mn in Nigeria to promote anti-corruption practices through capacity building and training.