Shell Pays Over $1bn In Taxes To FG In 2023

We gave FG over $1 billion in taxes in 2023, according to Shell

According to Shell Nigeria, the company paid the Federal Government a total of $1.09 billion in corporation taxes and royalties in 2023.

The payment was made, according to the business, via the activities of Shell Nigeria Exploration and Production business of Nigeria Limited (SNEPCO) and Shell Petroleum Development Company of Nigeria, SPDC, Limited.

The data, which was included in Shell's 2023 Briefing Notes, showed that SNEPCO sent $649 million while the SPDC paid $442 million.

Similar payments made by the two firms in 2022 totaled $1.36 billion, according to a statement from Abimbola Essien- Nelson, the company's manager of media relations.

“These payments are Shell exclusive and do not include those made by our partners,” said SPDC Managing Director and Country Chair, Shell Companies in Nigeria, Osagie Okunbor.

Okunbor explained, “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.”

He continued, saying that Shell has been an investor in Nigeria for more than 60 years and that the Briefing Notes provide an update on the state of the Shell Companies' operations in Nigeria for 2023, including SPDC, SNEPCO, Shell Nigeria Gas, and Daystar Power.

He stated that the studies showed how the businesses kept driving advancement, collaborating closely with communities and stakeholders to support socioeconomic growth and offer more affordable, environmentally friendly energy options.

“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.