Shell paid $29b to FG over 5 years – MD

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The Country Chair, Shell Companies in Nigeria (SCiN) and Managing Director of SPDC, Osagie Okunbor, has said that the Shell Petroleum Development Company of Nigeria Limited (SPDC) operated Joint Venture (JV) contributed $29 billion to Federal Government’s coffer between 2012 and 2016, The Nation reports.

He spoke during the presentation of 2017 Shell in Nigeria briefing notes in Lagos yesterday. The briefing notes highlight the firm’s operations scorecard. According to him, Shell remains  committed to the development of Nigeria and had done so for more than 50 years.

The SPDC operated JV alone contributed $29 billion to the Nigerian purse between 2012 and 2016. Also last year, the royalties and corporate taxes paid by SCiN to the Federal Government came to $1.4 billion (SPDC $1.0 billion and Shell Nigeria Exploration and Production Company (SNEPCo) $0.4 billion).