Shell Paid $1.09bn In Taxes and Royalties In 2023

Mrs Abimbola Essien-Nelson, the Media Relations Manager of Shell Nigeria, revealed that the oil company has exclusively paid $1.09 billion in corporate taxes and royalties to the Nigerian Government in 2023.

She stated this in a statement on Tuesday in Lagos.

Essien-Nelson said that the royalties were paid through the operations of the Shell Petroleum Development Company of Nigeria Ltd. (SPDC) and Shell Nigeria Exploration and Production Company of Nigeria Ltd. (SNEPCo).

Essien-Nelson said that the figures, announced in the just published 2023 Shell briefing notes, showed that SPDC paid 442 million dollars, while SNEPCo remitted 649 million dollars.

She said that similar payments made by the two companies in 2022 amounted to 1.36 billion dollars.

“These payments are Shell exclusive and do not include those made by our partners.

“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,” Osagie Okunbor said.

She said that Shell has invested in Nigeria for more than 60 years.

Essien-Nelson said that the briefing notes report on the progress of the businesses of Shell companies in Nigeria – SPDC, SNEPCo, Shell Nigeria gas and Daystar Power for 2023.

“The reports show that the companies continued to power progress, working closely with stakeholders and communities to promote socio-economic development and providing cost-effective and cleaner energy solutions.

“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.”