More than $1 billion was paid in taxes to FG by Shell in 2023.
Shell Nigeria claims to have paid the Nigerian government a total of $1.09 billion in corporation taxes and royalties in 2023 through the activities of Shell Petroleum Development Company of Nigeria Limited and Shell Nigeria Exploration and Production Company of Nigeria Limited.
As stated in the recently released 2023 Shell Briefing Notes, the SPDC contributed $442 million and SNEPCo contributed $649 million.
Similar payments made by the two companies in 2022 totaled $1.36 billion, according to a statement by Abimbola Essien-Nelson, the company’s media relations manager.
“These payments are Shell exclusive; they do not include those made by our partners,” Osagie Okunbor, Country Chair of Shell Companies in Nigeria and SPDC Managing Director, stated.
As Okunbor put it, “Shell companies in Nigeria will continue to contribute to the economic growth of the country through the revenue we generate and the employment opportunities we create by supporting the development of local businesses.”
He said that Shell has made investments in Nigeria for almost 60 years and that the Briefing Notes outline the developments of SPDC, SNEPCo, Shell Nigeria Gas, and Daystar Power in Nigeria until 2023.
He said the reports demonstrated how the businesses kept driving advancement, collaborating closely with communities and stakeholders to advance socioeconomic development and provide more affordable and environmentally friendly energy options.
It is crucial to stress that Shell is staying in Nigeria and will continue to be a significant participant in the energy industry there with its integrated gas and deep-water operations. Delivery of safe operations and care for our people are still our shared priorities, Okunbor said.