Shell paid over N1.3tr tax to FG in 2023

The Shell Petroleum Development Company of Nigeria Ltd’s Managing Director and Country Chair, Shell Companies in Nigeria, Osagie Okunbor has reiterated the commitment of the organisation to Nigeria’s economic growth.

This is just as it was disclosed that Shell exclusively paid a total of $1.09 (over N1.3tr) billion in corporate taxes and royalties to the Government of Nigeria last year through the operations of SPDC and Shell Nigeria Exploration and Production Company of Nigeria Ltd (SNEPCo).

This was contained in the 2023 Shell Briefing Notes indicating that SPDC paid $442 million, while SNEPCo remitted $649 million. Similar payments made by the two companies in 2022 amounted to $1.36 billion.

Okunbor while reacting to the briefing note said, “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.

“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.”

“These payments are Shell exclusive and do not include those made by our partners,” Okunbor said.

“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.”