Shell Nigeria has announced that it paid $1.09bn in corporate taxes and royalties to the Nigerian government in 2023.
According to the 2023 Shell Briefing Notes, the Shell Petroleum Development Company of Nigeria Limited and Shell Nigeria Exploration and Production Company of Nigeria Limited made the payments.
The SPDC paid $442m, and the SNEPCo remitted $649m. Last year, both companies made comparable payments totaling $1.36bn.
It’s important to note that these payments are solely made by Shell and don’t include payments made by the company’s partners.
Osagie Okunbor, the Managing Director and Country Chair of Shell Companies in Nigeria, confirmed this in a statement.
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”.
According to Okunbor, Shell has been investing in Nigeria for over 60 years, saying that the Briefing Notes highlights the progress of the businesses of Shell Companies in Nigeria, namely SPDC, SNEPCo, Shell Nigeria Gas, and Daystar Power in 2023.
The reports indicate that the companies are continuously working towards promoting socio-economic development and providing cost-effective and cleaner energy solutions by collaborating with stakeholders and communities.
Okunbor emphasized that it is essential to note that Shell is not leaving Nigeria and will continue to be a major partner in the country’s energy sector through its deep-water and integrated gas businesses. The company’s primary focus is on ensuring safe operations and taking care of its people.