Shell PAYS Nigerian Govt., Agencies $6.397Bn

Posted On April 17th, 2019 - 2:12 pm | by Oil and gas press

Over $6.397 billion was paid to the Nigerian government and its agencies in 2018 by Shell exploration and production companies in Nigeria comprising The Shell Petroleum Development Company of Nigeria Limited (SPDC) and Shell Nigeria Exploration and Production Company Limited (SNEPCo).

The payment represents a 48 per cent increase over payments by the companies to Nigerian government in 2017 which was $4.322 billion.

The payments formed part of the four documents released on Tuesday by the Group Chief Executive Officer of the Royal Dutch Shell, Ben Van Beurden, to signal the global oil giant’s renewed commitment to greater transparency.

The documents are: Shell Sustainability Report; Industry Associations Climate Review; Nigeria Briefing Notes; and Payments to Government Report.


“Shell must remain at the forefront of the drive for greater corporate transparency. We will continue to be more open about what we do and why we do it,” said van Beurden. “We want to help people better understand Shell’s performance, values and principles. These reports outline our approach and activities in the crucial areas of sustainability and our relationships with industry associations and governments.”

Image: U.S. Department of State

In the breakdown of the 2018 payments, the Shell companies paid $3.776 billion to the Nigeria National Petroleum Corporation as production entitlement while $1.286 billion was paid in taxes to the Federal Inland Revenue Service. Another $1.253 went to the Department of Petroleum Resources for royalties and fees, while $81.5 million was remitted to the Niger Delta Development Commission.

Managing Director of SPDC and Country Chair, Shell Companies in Nigeria, Osagie Okunbor, described the reports as a further testament to Shell’s efforts to increase transparency around activities that are important to investors, governments and civil society. “We are irrevocably committed to transparency just as we are to business integrity as part of our core values and central tenets of the Business Principles that govern the way we do business.”

Source / More : Shell exploration and production companies in Nigeria

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