Shell Nigeria disclosed that it paid a total of $1.09 billion in corporate taxes and royalties to the Nigerian government in 2023. This amount was exclusively paid 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 the 2023 Shell Briefing Notes, SPDC contributed $442 million, while SNEPCo remitted $649 million to the Nigerian government. This represents a decrease from the $1.36 billion paid in 2022.
Osagie Okunbor, the Managing Director and Country Chair of Shell Companies in Nigeria, clarified that these payments are exclusive to Shell and do not include contributions from its partners. He emphasized Shell’s commitment to contributing to Nigeria’s economic growth through revenue generation and employment opportunities.
Despite the decline in payments, Okunbor reaffirmed Shell’s long-term investment in Nigeria, spanning over 60 years. He highlighted the company’s efforts to promote socio-economic development and provide cleaner energy solutions, working closely with stakeholders and communities.
Okunbor also reassured that Shell remains a major partner in Nigeria’s energy sector, particularly through its deep-water and integrated gas businesses. The company’s focus remains on safe operations and the well-being of its employees.
