Shell Nigeria has disclosed that it paid a sum of $1.09 billion in corporate taxes and royalties to the Nigerian Government in 2023. The payment was facilitated through the activities of Shell Petroleum Development Company of Nigeria Limited and Shell Nigeria Exploration and Production Company of Nigeria Limited.
According to figures outlined in the company’s 2023 Shell Briefing Notes, SPDC contributed $442 million, while SNEPCo contributed $649 million.
In an official statement, Shell’s Media Relations Manager, Abimbola Essien-Nelson, stated that the tax payment for 2022 amounted to $1.36 billion.
Osagie Okunbor, the Managing Director and Country Chair of Shell Companies in Nigeria, clarified that these payments pertain exclusively to Shell and do not include contributions made by their partners.
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”.
Okunbor highlighted that Shell has been investing in Nigeria for over 60 years and continues to do so. He stated that the Briefing Notes detail the successes of the businesses operating under Shell, including SPDC, SNEPCo, Shell Nigeria Gas, and Daystar Power, for the year 2023.
“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.
