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Nigeria receives $3.7bn revenue from Shell
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Nigeria receives $3.7bn revenue from Shell

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ShellNigerian Government is said to have received the sum of $3.7 billion in taxes and royalties, from Anglo-Dutch Shell Group. According to latest global report by the group,the sum signifies the highest payment made to any single government among the Shell 31 countries of operations.

Report shows the oil multinational paid $270.7 million as production entitlement in the Shell Petroleum Development Company shallow water project of $111.2 million for SPDC West; and $1.05 billion for SPDC East.

Nigerian government also got another $1.2 billion as production entitlement, taxes and royalties for Production Sharing Contract 1993, for Oil Prospecting License in addition to an entity level payment of $1.06 billion.

In 2016, Shell paid more than $55.6 billion to governments in its countries of operation.

A breakdown of the payments reveals the oil firm paid $4.4 billion in income taxes, $2.3 billion in government royalties, and collected $48.9 billion in excise duties, sales taxes and similar levies on its fuel and other products on behalf of governments.

 

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