Shell Nigeria disclosed that it paid a total of $1.09 billion in corporate taxes and royalties to the Nigerian government in 2023. The payments were exclusively made through the operations of the Shell Petroleum Development Company of Nigeria Limited (SPDC) and Shell Nigeria Exploration and Production Company of Nigeria Limited (SNEPCo).
According to the just-published 2023 Shell Briefing Notes, SPDC contributed $442 million, while SNEPCo remitted $649 million to the government. These figures represent a decrease compared to the total payments of $1.36 billion made by the two companies in 2022.
Osagie Okunbor, the Managing Director and Country Chair of Shell Companies in Nigeria, clarified that these payments were made solely by Shell and did not include contributions from their partners. He reiterated Shell’s commitment to Nigeria’s economic growth through revenue generation and job creation.
Okunbor emphasized Shell’s longstanding presence in Nigeria, spanning over 60 years, and highlighted the company’s investment in various sectors, including deep-water exploration and integrated gas projects. He assured that Shell remains dedicated to supporting the country’s energy sector and promoting socio-economic development.
The 2023 Shell Briefing Notes also outlined the progress of Shell’s businesses in Nigeria, including SPDC, SNEPCo, Shell Nigeria Gas, and Daystar Power. These companies continue to collaborate with stakeholders and communities to drive progress and provide cleaner energy solutions.
Despite challenges, Okunbor reiterated Shell’s commitment to safe operations and employee welfare, reaffirming Shell’s ongoing partnership with Nigeria’s energy sector.
