Business
Nestle commits N8.78bn to CSR
By Chioma Obinagwam
Nestle Nigeria has said it expended N8.78 billion to Corporate Social Responsibilty(CSR) for the financial year ended December 31, 2016.
This is commitment, the company’s financials indicated, is coming in the face hemorrhaging macroeconomic indicators in addition to tough operating environment.
A breakdown of the amount reported in the result, showed that the company spent N5.88 billion on the construction of a water fountain for safe drinking water supply to the local community in Abaji.
Also, the annual report for the period under review indicated that N2 billion was committed for product donation to Internally Displaced Persons (IDP) camps via the United Nations Coordinating office for Humanitarian affairs.
Others include donation of a water tank to the Nigerian Police Special Fraud Unit at the cost of N500 million and donation of N400 million to the Institute of Charted Secretaries and Administrators of Nigeria.
The chairman of the company, David Ifezulike noted that it has remained committed to through the provision of good quality nutrition solutions, community development and youth empowerment.
“We also work throughout our value chain to ensure responsible sourcing and encourage practices that promote sustainability of the environment,” he added.
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