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National Tribune

Flagging The Conscience Of Truth

Shell’s Significant Tax Contribution: Over $1 Billion Paid to Nigerian Government in 2023

ByWeb Manager

May 8, 2024

Shell Nigeria proudly announces its substantial contribution to the Nigerian government, revealing a total payment of $1.09 billion in corporate taxes and royalties for the year 2023. This significant sum was exclusively paid through the operations of the Shell Petroleum Development Company of Nigeria Limited and Shell Nigeria Exploration and Production Company of Nigeria Limited.

According to the recently released 2023 Shell Briefing Notes, the breakdown of payments showcases the Shell Petroleum Development Company (SPDC) contributing $442 million, while Shell Nigeria Exploration and Production Company (SNEPCo) remitted $649 million.

In comparison to the previous year, where similar payments amounted to $1.36 billion, these figures reflect Shell’s ongoing commitment to supporting Nigeria’s economic growth.

Highlighting the exclusivity of these payments, SPDC Managing Director and Country Chair of Shell Companies in Nigeria, Osagie Okunbor, clarified, “These payments are Shell exclusive and do not include those made by our partners.”

Furthermore, Okunbor emphasized Shell’s dedication to Nigeria’s progress, stating, “Shell companies in Nigeria will continue to contribute to the country‚Äôs economic growth through the revenue we generate and the employment opportunities we create by supporting the development of local businesses.”

With a legacy spanning over 60 years of investment in Nigeria, Shell remains steadfast in its commitment to the nation’s development. The Briefing Notes provide insight into the progress of various Shell Companies in Nigeria, including SPDC, SNEPCo, Shell Nigeria Gas, and Daystar Power for the year 2023.

These reports underscore the company’s ongoing efforts to power progress, collaborate with stakeholders and communities, promote socio-economic development, and offer cost-effective and cleaner energy solutions.

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