Shell Nigeria Pays $1.09bn in Taxes and Royalties to Nigerian Government in 2023
By Sonia Enoma
Editor
Shell Nigeria, through its subsidiaries, the Shell Petroleum Development Company of Nigeria Limited and Shell Nigeria Exploration and Production Company of Nigeria Limited, exclusively paid a total of $1.09 billion in corporate taxes and royalties to the Nigerian government in 2023.
The figures, revealed in the recently published 2023 Shell Briefing Notes, indicated that the Shell Petroleum Development Company of Nigeria Limited (SPDC) paid $442 million, while the Shell Nigeria Exploration and Production Company of Nigeria Limited (SNEPCo) remitted $649 million.
This marks a decrease from the $1.36 billion paid in 2022, as stated by the company’s Media Relations Manager, Abimbola Essien-Nelson.
Osagie Okunbor, the Managing Director and Country Chair of Shell Companies in Nigeria, clarified, “These payments are Shell exclusive and do not include those made by our partners.”
Elaborating further, Okunbor emphasized, “Shell companies in Nigeria remain committed to bolstering the nation’s economic advancement through revenue generation and fostering employment opportunities by supporting local business development.”
Highlighting Shell’s longstanding presence in Nigeria, which spans over 60 years, Okunbor underscored the significance of the Briefing Notes, which outline the progress of Shell Companies in Nigeria – SPDC, SNEPCo, Shell Nigeria Gas, and Daystar Power for the year 2023.
Furthermore, Okunbor reassured that Shell remained deeply involved in Nigeria’s energy sector, particularly through its deep-water and integrated gas businesses. He emphasized the company’s dedication to safe operations and employee welfare, affirming Shell’s continued partnership with Nigeria’s energy landscape.
“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.
