The Managing Director of Shell Petroleum Development Company of Nigeria (SPDC) and the Country Chair of Shell Companies in Nigeria, Mr. Osagie Okunbor, has said that Shell paid $1.09 billion in corporate taxes and royalties to the Nigerian Government in 2023.
According to the 2023 Briefing Notes published by SPDC, the payments were from the operations of Shell Petroleum Development Company of Nigeria Ltd (SPDC) and Shell Nigeria Exploration and Production Company of Nigeria Ltd (SNEPCo.)
It added that SPDC paid $442 million, while SNEPCo remitted $649 million as against similar payments made by the two companies in 2022 which amounted to $1.36 billion.
“These payments are Shell exclusive and do not include those made by our partners,” said Okunbor. “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.”
“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,” local media reports quoted Mr. Okunbor as saying in the Briefing Notes.
The reports added that Shell has invested in Nigeria for more than 60 years and that the businesses of Shell Companies in Nigeria – SPDC, SNEPCo, Shell Nigeria Gas and Daystar Power have continued to power progress, working closely with stakeholders and communities to promote socio-economic development and providing cost-effective and cleaner energy solutions.
GIK/APA
Shell Nigeria paid over $1bn in taxes, royalties to Nigerian govt. in 2023
