Shell has disclosed that it paid the sum of $1.09 billion in corporate taxes and royalties to the Federal Government in 2023.
Media Relations Manager, Mrs. Abimbola Essien-Nelson, disclosed this in Lagos.
She said the payments were made through the operations of two key subsidiaries: the Shell Petroleum Development Company of Nigeria Ltd. (SPDC) and the Shell Nigeria Exploration and Production Company of Nigeria Ltd. (SNEPCo).
Essien-Nelson said SPDC contributed $442 million, while SNEPCo remitted $649 million.
Comparatively, in 2022, similar payments from these companies totalled $1.36 billion.
Managing Director and Country Chair, Shell Companies in Nigeria, Osagie Okunbor, noted that the payments are Shell exclusive and do not include those made by its partners
Okunbor reiterated Shell’s dedication to fostering economic development and supporting local businesses, reaffirming the company’s longstanding presence in Nigeria, where it has invested for over six decades.
