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Shell Nigeria Pays Over $1 Billion in Taxes to Nigerian Government in 2023

Shell pays $1bn in taxes to federal government in 2023
Shell pays $1bn in taxes to federal government in 2023

SPDC and SNEPCo Contributions Highlighted in 2023 Shell Briefing Notes

In a recent announcement, Shell Nigeria revealed its substantial financial contribution to the Nigerian government in 2023, totaling over $1 billion in corporate taxes and royalties.

The payments were made through the operations of the Shell Petroleum Development Company of Nigeria Limited (SPDC) and Shell Nigeria Exploration and Production Company of Nigeria Limited (SNEPCo).

According to Abimbola Essien-Nelson, the company’s media relations manager, similar payments in 2022 amounted to $1.36 billion. The 2023 Shell Briefing Notes unveiled that SPDC paid $442 million, while SNEPCo remitted $649 million.

SPDC Managing Director and Country Chair, Osagie Okunbor, clarified that these payments were exclusively from Shell and did not include contributions from other partners. He reiterated Shell’s commitment to Nigeria’s economic growth, citing the company’s more than 60 years of investment in the country.

Okunbor emphasized Shell’s ongoing presence in Nigeria, highlighting its deep-water and integrated gas businesses. The company’s focus, he stated, remains on safe operations, employee well-being, and supporting local socio-economic development.

The 2023 Shell Briefing Notes underscored the companies’ efforts in powering progress, collaborating with stakeholders, and providing cost-effective and cleaner energy solutions.

Shell reaffirmed its position as a major partner in Nigeria’s energy sector, signaling its continued engagement and investment in the country’s future.

This Article is Fact-Checked. See Policy.

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