Shell admits paying over $1billion tax, royalties to Nigerian Govt in 2023

According to the figures released in the recently released 2023 Shell Briefing Notes, SNEPCo remitted $649 million, while the SPDC paid $442 million.

According to Shell Nigeria, via the operations of Shell Nigeria Exploration and Production Company of Nigeria Limited and Shell Petroleum Development Company of Nigeria Limited, it exclusively paid $1.09 billion in corporation taxes and royalties to the Nigerian government in 2023.

Similar payments made by the two companies in 2022 totaled $1.36 billion, according to a statement from the company’s public relations manager, Abimbola Essien-Nelson.

The figures, announced in the just published 2023 Shell Briefing Notes, showed that the SPDC paid $442m, while SNEPCo remitted $649m.

SPDC Managing Director and Country Chair, Shell Companies in Nigeria, Osagie Okunbor said the payments are Shell’s exclusive and do not include payments made by other partners.

“These payments are Shell exclusive and do not include those made by our partners,” said Okunbor.

Okunbor explained, “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”.

He added that Shell has invested in Nigeria for more than 60 years, adding that the Briefing Notes report on the progress of the businesses of Shell Companies in Nigeria – SPDC, SNEPCo, Shell Nigeria Gas and Daystar Power for 2023.

The reports, he said, showed that the companies continued to power progress, working closely with stakeholders and communities to promote socio-economic development and providing cost-effective and cleaner energy solutions.

“It is important to emphasise that 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 delivery of safe operations and care for our people,” Okunbor maintained.

Leave A Reply

Your email address will not be published.