October 21, 2018

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Shell pays N8.4trn to Nigeria in four years

Shell pays N8.4trn to Nigeria in four years

Royal Dutch Shell (Shell) declared yesterday that it had paid a total sum of N8.4 trillion ($42 billion) as its economic contribution to the Nigerian government in the last four years, from 2011 to 2015. Shell Petroleum Development Company Joint venture and Shell Nigeria Exploration and Production Company (SPDC JV and SNEPCo) jointly contributed $145.1 million to Niger Delta Development Commission (NDDC) in 2015.

Of the amount, Shell contributed $62.3 million, the oil firm said in its Sustainability Report for 2015, which describes how it is working responsibly to help meet the world’s growing demand for energy. Shell and SNEPCo also paid $1.1 billion to Nigerian government as royalties and corporate taxes in 2015, with SPDC contributing $0.6 billion and SNEPCo $0.5 billion.Direct spending on social investment projects in 2015 by SPDC JV and SNEPCo was $50.4 million, with Shell accounting for $15.4 million. Read more 

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