Shell Paid Over $1 Billion in Taxes to the Nigerian Government in 2023
Shell Nigeria announced that in 2023 it paid a total of $1.09 billion in corporate taxes and royalties to the Nigerian government through the operations of Shell Petroleum Development Company of Nigeria Limited (SPDC) and Shell Nigeria Exploration and Production Company Limited (SNEPCo).
According to the newly released 2023 Shell Briefing Notes, SPDC contributed $442 million, while SNEPCo remitted $649 million.
In a statement from the company's Media Relations Manager, Abimbola Essien-Nelson, it was noted that the combined payments made by these two entities in 2022 totaled $1.36 billion.
"These payments are exclusive to Shell and do not include those made by our partners," said Osagie Okunbor, Managing Director of SPDC and Country Chair for Shell Companies in Nigeria.
Okunbor stated, “Shell companies in Nigeria will continue to contribute to the nation's economic growth through the revenue we generate and the employment opportunities we create by supporting the development of local businesses."
He added that Shell has invested in Nigeria for over 60 years and noted 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.
According to him, the reports demonstrate that the companies have continued to drive progress by working closely with stakeholders and communities to promote socio-economic development and provide cost-effective, cleaner energy solutions.
It is crucial to stress that Shell is not exiting Nigeria and will continue to be a key partner in the country's energy sector through its deep-water and integrated gas businesses. Our shared focus remains on ensuring safe operations and caring for our people," Okunbor emphasized.
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