AGS NEWS – Shell Nigeria reported 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 two of its companies: the Shell Petroleum Development Company of Nigeria Limited and the Shell Nigeria Exploration and Production Company of Nigeria Limited.

The breakdown revealed that the Shell Petroleum Development Company paid $442 million, while the Shell Nigeria Exploration and Production Company remitted $649 million.

The Managing Director and Country Chair of Shell Companies in Nigeria, Osagie Okunbor, clarified that these payments were solely from Shell and did not include contributions from their partners.

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He highlighted the company’s commitment to contributing to Nigeria’s economic growth through revenue generation and job creation, emphasizing their longstanding investment in the country spanning over 60 years.

Okunbor reaffirmed Shell’s dedication to Nigeria’s energy sector, particularly through its deep-water and integrated gas businesses.

He stressed the company’s focus on safe operations and the well-being of its employees, emphasizing Shell’s ongoing partnership with stakeholders and communities to foster socio-economic development and provide cleaner energy solutions.