Shell Nigeria has disclosed that it exclusively paid a total of $1.09 billion in corporate taxes and royalties to the Government of Nigeria last year through its operations, as detailed in the just-published 2023 Shell Briefing Notes.
According to the figures, The Shell Petroleum Development Company of Nigeria Ltd (SPDC) remitted $442 million, while Shell Nigeria Exploration and Production Company Ltd (SNEPCo) contributed $649 million.
This marks a decrease from the $1.36 billion paid by the two companies in similar payments in 2022.
Osagie Okunbor, Managing Director and Country Chair of Shell Companies in Nigeria, clarified, “These payments are Shell exclusive and do not include those made by our partners. Shell Companies in Nigeria will continue to contribute to the country’s economic growth through the revenue we generate and the employment opportunities we create by supporting the development of local businesses.”
With over 60 years of investment in Nigeria, Shell remains committed to the nation’s economic development.
The Shell Briefing Notes detail the progress of Shell Companies in Nigeria, including SPDC, SNEPCo, Shell Nigeria Gas, and Daystar Power, for the year 2023.
The reports highlight the companies’ efforts in promoting socio-economic development and providing cost-effective and cleaner energy solutions, as well as their collaboration with stakeholders and communities.
Mr. Okunbor emphasized, “Shell is not leaving Nigeria and will remain a major partner of the country’s energy sector through its deep-water and integrated gas businesses. Our collective focus remains on the delivery of safe operations and care for our people.”
