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Shell pays $42 billion to Nigeria in four years

Shell MD, Osagie Okunbor
Shell MD, Osagie Okunbor
Royal Dutch Shell (Shell) declared, Monday, that it had paid a total sum of $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.
Shell Companies in Nigeria (SCiN) spent $0.9 billion on local contracting and procurement with 93 per cent of all contracts awarded to Nigerians. The report added that as at October 2015, 94 per cent of SCiN employees were Nigerians. “In addition to SPDC and SNEPCo, Shell also holds interests in a number of offshore licences, including the Shell-operated Bonga field (Shell interest 55%). Shell also has a 25.6 per cent interest in Nigeria Liquefied Natural Gas (NLNG), which exports LNG around the world,” the report stated.
In his introduction to the Sustainability Report, Shell’s Chief Executive Officer, Ben van Beurden, said it was a significant year for the global community in 2015 with the adoption of the historic Paris Agreement by 195 countries, demonstrating a commitment to bring about a lower-carbon energy system.

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