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In 2023, Shell Nigeria reported paying the Nigerian government $1.09 billion in corporate taxes and royalties.
This was done through the operations of the Shell Petroleum Development Company of Nigeria Limited, which paid $442 million, and the Shell Nigeria Exploration and Production Company of Nigeria Limited, which remitted $649 million.
The just published 2023 Shell Briefing Notes revealed that in 2022, the two companies made similar payments totaling $1.36 billion.
According to SPDC Managing Director and Country Chair, Shell Companies in Nigeria, Osagie Okunbor, as stated by the company’s Media Relations Manager, Abimbola Essien-Nelson, these figures are exclusive to Shell and do not include payments made by their partners.
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 added that Shell has invested in Nigeria for more than 60 years, adding 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, he said, showed 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 crucial to stress that Shell is not exiting Nigeria and will continue to be a significant contributor to the country's energy industry through its deep-water and integrated gas operations. Our primary goal continues to be the safe execution of operations and the well-being of our employees," Okunbor asserted.
