shippingposition
  • Home
  • News
  • Editorial
    • Vox Pop
  • Maritime safety
  • Oil and Gas
  • Personality
  • Health
No Result
View All Result
shippingposition

Home » $1.9bn Royalty, Taxes To Nigeria In Two Years – Shell

$1.9bn Royalty, Taxes To Nigeria In Two Years – Shell

by Joshua
August 15, 2022
in Oil and Gas

Shell Companies in Nigeria said it paid $1.886 billion ($1.9bn approximate) on royalty and taxes to the Nigerian government in the two years period of 2020 and 2021.

SHELL

The oil giant also said it spent over $1.6 billion on contracts to indigenous firms in the country during the same period.

A 2021 briefing note from the company, which contained these figures showed that Shell paid $986 million in corporate taxes and royalties to the Nigerian Government in 2021 alone.

The breakdown as contained in the note obtained by our correspondent showed that Shell Petroleum Development Company (SPDC) paid $424 million while Shell Nigeria Exploration and Production Company (SNEPCo) remitted $562 million.

This is a significant increase compared with $900 million remitted in 2020.

Besides, the SPDC JV, SNEPCo and Shell Nigeria Gas (SNG) spent $33.82 million in direct social investment, compared with $49.4 million in 2020. The decline was attributed to significant contributions made to COVID-19-specific programmes supporting communities impacted by the onset of the pandemic in 2020.

According to the briefing note, the SPDC JV, in compliance with statutory requirements, paid $38.7 million in 2021 to the Niger Delta Development Commission (NDDC). However, SNEPCo and its co-ventures paid $23 million to the NDDC.

Shell Companies in Nigeria also directly employed 2,500 people (of whom 97% were Nigerian nationals) with more than 8,500 contractors supporting operations.

Country Chair of Shell Companies in Nigeria, Osagie Okunbor said Shell’s relationship with Nigeria is strong.

Okunbor said: “Shell has announced its intention to review options for its onshore Nigeria portfolio but Shell’s relationship with Nigeria remains strong.

“We may be changing the content of our portfolio but this is because we intend to focus future investment in Nigeria on deep-water exploration and production, and expanding our gas distribution network for domestic and international customers.

Read Also: Oil Theft: Nigeria Loses 400,000 Barrels Daily – Sylva

“In 2021, the Bonga field’s oil mining lease (OML) 118 and its production sharing contract (PSC) were renewed for another 20 years. This lease underpins our deep-water operations. Its renewal opens up further opportunities for Shell in Nigeria.

“We also successfully launched the Shell Energy Nigeria business line to expand the gas distribution solutions being championed by SNG. I am confident that this move will extend the efforts of Shell in delivering gas for power and industrial use across the country.

“Once again, the highest concentration of direct social investment in 2021 within the Group was made in Nigeria. As a development partner with a strong belief in Nigeria, we will continue to support the country’s aspirations towards achieving the UN’s Sustainable Development Goals,” he said.

shippingposition

Kindly like us on Facebook/twitter


Tags: Shell

Related Posts

Nigeria’s Daily Crude Oil Production Drops To 937,766 bpd In September

Nigeria’s Crude Oil Export Revenue Drops by 17% to $6.68 Billion in First Two Months of 2025

June 1, 2025
President Tinubu Signs 6 IMO Instruments Of Accession

FG Rallies Stakeholders to Accelerate Nigeria’s Gas Revolution, Signs Agreement with Ten Equity Partners

June 1, 2025
The Return of Standards Organisation of Nigeria to the ports

SON Raises Concern Over Influx Of Adulterated Lubricants, Engine Oil

June 1, 2025
Tensions Rise as Bayelsa Host Communities Threaten Shutdown Over Security Contracts

Tensions Rise as Bayelsa Host Communities Threaten Shutdown Over Security Contracts

June 1, 2025

Latest News

NPA Bags NASS PAC Transparency Award

NPA Bags NASS PAC Transparency Award

July 12, 2025

Nigeria Customs Says Claim Of Form ‘M’ Migration Charges False

CRFFN Showcases Reform Milestones, Dismisses Court Ruling Misinterpretation

NCMDLCA Faction Distances Self from Amiwero’s Court Action, Backs CRFFN on POF Collection

Customs Intercepts ₦9.2bn Worth of Fake Bedroom Booster, Others

Customs, NAFDAC Inaugurate Implementation Committee for 2024 MoU

Nigeria Customs Intercepts Container with Over 10,000 Donkey Genitals

Senate Hails Adeniyi’s Election as WCO Council Chair, Says It’s  a Major Win for Nigeria’s Global Trade Leadership

Oyetola Launches Door-to-Door’ Diplomacy for Nigeria’s IMO Council Bid

FG Urged To Link Warri-Itakpe Rail To Inland Ports, Road Networks

Red Sea Operation Rescues 4 More From Cargo Ship Sunk By Houthis

Shippers’ Council Set to Establish Border Information Centre at Idiroko, Bolster Trade Efficiency

kindly like our Facebook page

Health

Contraceptive Pills Can’t Cause Cervical Cancer – Expert
Health

Contraceptive Pills Can’t Cause Cervical Cancer – Expert

June 30, 2025

Mrs Roseline Akinlabi, Adolescent and Youth Sexual Reproductive Health Desk Officer, Osun Primary Healthcare Board, says contraceptive pills cannot cause...

ONIONS: The Good Old Healing Vegetable

KNOW YOUR BODY PARTS: The Liver

June 16, 2025
ONIONS: The Good Old Healing Vegetable

ONIONS: The Good Old Healing Vegetable

June 16, 2025
Why Prostate Disorder Cases Are Increasing Among Nigerian Men – Experts

Why Prostate Disorder Cases Are Increasing Among Nigerian Men – Experts

June 1, 2025
20m Nigerians Live With Mental Health Issues, Says WHO

20m Nigerians Live With Mental Health Issues, Says WHO

June 1, 2025
Health Facts You Didn’t Know

How Your Habit Affects Fertility

May 19, 2025
Fruits For Raining Season

Fruits For Raining Season

May 19, 2025
See Mental Illness Like Other Treatable Diseases – Says Suicide Survivor

Health Facts You Didn’t Know

May 19, 2025
Alligator Pepper: Benefits, FAQ, Side Effects, & Warning

Alligator Pepper: Benefits, FAQ, Side Effects, & Warning

April 28, 2025
Water And Health: The Relationship That Helps Life

Water And Health: The Relationship That Helps Life

April 28, 2025

© 2021 Shippingposition

Navigate Site

  • Home
  • About Us
  • Contact us
  • Privacy Policy
  • Sitemap
  • Terms

Follow Us

No Result
View All Result
  • News
  • Coast To Coast
  • Oil and Gas
  • Maritime Education
  • The Terminals
  • Maritime safety

© 2021 Shippingposition