Shell Petroleum Development Company of Nigeria Ltd (SPDC) and Shell Nigeria Exploration and Production Company of Nigeria Ltd (SNEPCo) collectively contributed $1.09 billion in corporate taxes and royalties to the Government of Nigeria last year, as disclosed in the recently released 2023 Shell Briefing Notes. Specifically, SPDC contributed $442 million, while SNEPCo’s contribution stood at $649 million. In comparison, the total payments made by both companies in 2022 amounted to $1.36 billion.
Osagie Okunbor, Managing Director and Country Chair of Shell Companies in Nigeria, clarified that these figures represent Shell’s exclusive payments and do not include contributions from its partners. He affirmed Shell’s commitment to Nigeria’s economic growth through revenue generation and employment opportunities, particularly in supporting local business development.
With a legacy of over 60 years in Nigeria, Shell Companies in Nigeria, including SPDC, SNEPCo, Shell Nigeria Gas, and Daystar Power, continue to drive progress by collaborating with stakeholders and communities to foster socio-economic development. The companies are dedicated to providing cost-effective and cleaner energy solutions.
Mr. Okunbor reiterated Shell’s enduring presence in Nigeria, emphasizing the company’s ongoing role as a major partner in the country’s energy sector, particularly in deep-water and integrated gas businesses. He emphasized Shell’s collective focus on ensuring safe operations and prioritizing the well-being of its workforce.