Shell, others pay NDDC $142m in one year

Shell Petroleum Development of Nigeria (SPDC) and Shell Nigeria Exploration and Production Company (SNEPCo) jointly paid $142.5 million to the Niger Delta Development Commission (NDDC) in 2023. This represents a significant increase compared to their contributions in 2022.

This payment is part of Shell’s statutory contributions to the NDDC, an agency focused on development in the Niger Delta region. Shell emphasizes its wider commitment to the region through social investments in health and education. They cite initiatives like scholarships and a mobile healthcare program as examples of their social responsibility efforts.

The news report also highlights that Nigeria was the biggest recipient of payments from Shell in 2023, receiving $4.92 billion. This increase signifies Shell’s continued economic importance to Nigeria.

Source: Business Day