Shell Companies Paid $1.36Bn To Federal Government As Taxes and Royalties in 2022
Shell companies namely Shell Petroleum Development Company (SPDC) and Shell Nigeria Exploration and Production Company (SNEPCO ) paid $1.36 billion as corporate taxes and royalties to the Federal Government of Nigeria in the fiscal year 2022, according to Shell Briefing Note 2023.
Also, in the period under review, the two companies paid $79.77 million to the Niger Delta Development Commission (NDDC) while contracts worth $ 1.9 billion were awarded to Nigerian registered contractors.
On renewable energy, the Companies were committed to supporting AllOn to the tune of $200 million as a renewable impact investment. These companies also provided funds for All On for the expansion of DART program. There was another commitment of $23 million for investment in renewable energy to be paid to AllOn Energy Company.
As for the investment in the education sector, 3,500 University grants were disbursed and 990 cradle-to-career scholarship grants were awarded by companies including Shell Nigeria Gas (SNG) since 2016.
The companies also assisted Lagos and Bayelsa States with educational infrastructure projects worth about $15 million.
Over 92, 000 people have so far benefited from the company’s Community Health Insurance scheme since 2010.
The direct and social investment made by both SPDC, SNEPCO, and SNG in 2022 was put at $ 34 million just as $106 million was disbursed by SPDC JV to communities through the Global Memorandum of Understanding (GMOUs) since 2017.
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