Shell Discloses $1.09 Billion Payments to Government

The Managing Director and Country Chair of Shell Companies in Nigeria, Osagie Okunbor, has reaffirmed the organization’s dedication to Nigeria’s economic growth.

In a briefing note for 2023, it was revealed that Shell exclusively paid a total of $1.09 billion (over N1.3 trillion) in corporate taxes and royalties to the Nigerian government through the operations of the Shell Petroleum Development Company of Nigeria Ltd (SPDC) and Shell Nigeria Exploration and Production Company of Nigeria Ltd (SNEPCo). This amount comprised $442 million from SPDC and $649 million from SNEPCo.

Okunbor emphasized Shell’s ongoing commitment to Nigeria’s energy sector, particularly through its deep-water and integrated gas businesses, highlighting the company’s focus on safe operations and employee welfare.

He stressed that Shell’s contributions to the country’s economic growth extend beyond revenue generation to creating employment opportunities and supporting the development of local businesses.

Source: Daily Trust