Our ambition in the first pillar of our sustainability strategy is to make a positive difference to the socio-economic prosperity in our host communities and countries. Studies have shown the strong relationship between power consumption, income levels and broader human development metrics; ceteris paribus the higher a country’s per capita power consumption, the higher both GDP per capita, human life expectancy and those metrics are expected to be. That is why we focus on providing our host countries with energy to drive socio-economic prosperity.
At a local and regional level, Savannah creates significant socio-economic impact. Our impact includes payments to employees, contractors and suppliers as well as social impact investment in community projects. This contribution has a multiplier effect, creating economic impacts in the wider community and economy of our host communities. Our approach here is built on strong and meaningful relationships with local communities based on mutual trust and benefit.
2022 performance
- We supplied gas enabling approximately 24% of Nigeria’s thermal power generation capacity and continued to play a strategic role providing a stable and reliable supply of gas to power stations and industrial users, adding four new gas customers.
- Our Total Contributions(d) to our host countries increased by 3% to US$56.9 million in 2022 (2021: US$55.1 million).
- Our social impact investment increased by 23% to US$304,000 in 2022 (2021: US$246,000) across 26 projects (2021: eight).
- We spent US$22.9 million in 2022 with local suppliers and contractors in Nigeria and Niger (2021: US$26.2 million)
2023 objectives
- Develop targeted impact metrics that reflect Savannah’s expanded portfolio and that further measure Savannah’s contribution to socioeconomic prosperity in our host communities and countries.
Reporting metrics
- Total contributions(d) in US$
- Social impact investment in US$
- Number of social impact projects
- Payments to local suppliers and contractors in US$
(d) Total contributions to Nigeria and Niger defined as payments to governments, employee salaries and payments to
local suppliers and contractors. Where total contributions refer to the period 2014–2022 they include contributions
to Nigeria during the period pre-acquisition of the Nigerian assets by Savannah.