AFRICA

Shell Nigeria Paid Over $900M In Taxes and Royalties To Nigerian Government in 2022

Shell Nigeria Exploration and Production Company (SNEPCo) said it paid a total of $907 million as taxes and royalties to the Nigerian government in 2022, as its operations continued to contribute to the national purse to finance development. 

The company and its partners remitted more than $20.73 million to the Niger Delta Development Commission (NDDC) in compliance with statutory requirements last year.

Managing Director of SNEPCo, Mrs Elohor Aiboni, disclosed this in a statement made available to THISDAY, and signed by Shell’s Media Relations Manager, Abimbola Essien-Nelson.

While reviewing the company’s operations, Aiboni stated, “SNEPCo has helped to boost national revenue since 2005, when we pioneered production from deep-water in Nigeria after successfully drilling the first exploration well in more than 1,000 metres of waters five years earlier.

“But we pay more than taxes and royalties. The success story at Bonga has helped to create a generation of Nigerian deep-water professionals, encouraged indigenous contractors and service providers to acquire skills and competence to support operations offshore and resulted in the construction of medical and educational institutions in addition to other aspects of social investments in different states of the federation.”

SNEPCo was incorporated in 1993 to explore and deliver hydrocarbons in Nigeria’s deep-water frontier where no concerted exploration effort had previously taken place. The company has continued to deliver on this mandate through Bonga and other deep-water blocs.  In February this year, Bonga produced the one billionth barrel of oil, marking a key milestone in the operations of a field located 120km off the shore of Nigeria.

 Aiboni added, “we are grateful for the support of Nigerian National Petroleum Company (NNPC) Limited and our Co-venture partners consisting of Nigerian Agip Oil Company Limited, Total Energies Nigeria and Esso Exploration and Production Nigeria (Deepwater) Limited.

SNEPCo will continue to operate safely and deliver real benefits to all stakeholders, including the people and government of Nigeria

Peter Uzoho

Follow us on:

Peter Uzoho

Recent Posts

Three Dead in Haiti Hospital Attack Amid Gang Violence

Three killed as armed men opened fire at Haiti hospital reopening, including two journalists and…

2 hours ago

Impeached South Korean President Defies Second Summons Over Martial Law Declaration

Impeached South Korean President Yoon has skipped questioning over his controversial martial law declaration, intensifying…

3 hours ago

Israeli Airstrikes, Raids Leave Eight Palestinians Dead in West Bank Camps

Israeli military raids have killed eight Palestinians, including two women and a teenager, in Tulkarem…

3 hours ago

Apple Nears $4 Trillion Market Value, Fueled by AI Innovations and iPhone Upgrade Hopes

Apple nears $4 trillion valuation as AI integration and iPhone supercycle excitement drive shares up…

3 hours ago

COAS Orders Soldiers to Combat Oil Theft in Niger Delta to Boost Economy

COAS Oluyede has urged soldiers to combat oil theft in the Niger Delta, protecting national…

3 hours ago

NCAA Sanctions Five Airlines for Violating Regulations on Refunds, Flight Disruptions

NCAA has sanctioned five airlines for refund delays, flight disruptions, luggage issues, and regulatory breaches.

3 hours ago