Siemens Nigeria has reiterated that its support for sustainable development in Nigeria is driven by its widely acclaimed model, “Business to Society (B2S)” initiative, which is focused on achieving societal, economic and environmental advancements.
The B2S initiative, the company said in a statement is specifically focused on promoting economic development, environmental sustainability, developing local jobs and skills, providing value-adding innovation, improving quality of life and achieving positive societal transformation.
Defining the Siemens, “Business to Society” model, CEO, Siemens Nigeria, Onyeche Tifase, said: “Our ‘Business to Society’ initiative represents the multidimensional 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 $562.5million 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 reveals 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).
Commenting on the report, Tifase said: “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. Our social investment programmes have been designed to achieve the highest levels of stakeholder resonance and maximal benefits to the society.”
She stated that Siemens Nigeria remains a strong partner to the Nigerian government in developing local jobs and skills, adding that the company has positively impacted employment with an estimated number of 48,000 jobs linked to Siemens’ business operations in Nigeria.
Furthermore, she noted that as part of its 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.
According to the B2S report, Siemens Integrity Initiative (SII) has invested about $1.29million in Nigeria to promote anti-corruption practices through capacity building and training.
As an international company present in Nigeria over the last 50 years, Siemens has played a vital role in addressing Nigeria’s socio-economic challenges to ensure an ever-improving society for Nigerians today and future generations.
“Siemens is fully aware of the imperative for businesses to impact positively on society and we remain passionately committed to the socio-economic development of Nigeria” Tifase concluded.