Shell companies paid a total of $1.09 billion in corporate taxes and royalties to the Federal Government in the 2023 fiscal year.
It was learnt that the revenue accrued through the operations of The Shell Petroleum Development Company of Nigeria Ltd (SPDC) and Shell Nigeria Exploration and Production Company of Nigeria Ltd (SNEPCo.)
The figure is contained in the 2023 Shell Briefing Notes published in the energy firm’s web portal obtained on Wednesday, 2 May 2024.
The figures indicate that SPDC paid $442 million, while SNEPCo remitted $649 million.
According to the publication, payments made by the two companies in 2022 amounted to $1.36 billion.
“These payments are Shell exclusive and do not include those made by our partners,” the publication quotef SPDC Managing Director and Country Chair, Shell Companies in Nigeria, Osagie Okunbor as saying.
“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.
“Shell has invested in Nigeria for more than 60 years,” the report stated.
The report also highlighted the progress of the businesses of Shell Companies in Nigeria, SPDC, SNEPCo, Shell Nigeria Gas and Daystar Power for 2023.
The report shows that the companies continued to make progress, working closely with stakeholders and communities to promote socio-economic development and providing cost-effective and cleaner energy solutions.
The report further quoted Okunbor on ongoing divestments from onshore assets: “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.”