Shell confirms it paid Nigeria $5.34bn in taxes, charges in 2024, its highest government payout globally
Image Credit: nairametrics- Shell Plc paid $5.34 billion to the Nigerian government in 2024, marking its highest global government payout, surpassing payments to Oman, Brazil, and Norway.
- Most of the payments, over 71%, went to the Nigerian National Petroleum Corporation (NNPC), totaling about $3.8 billion, with additional amounts paid as taxes, royalties, and fees to various Nigerian federal agencies.
- Shell’s payments stem largely from production entitlements and reflect a 5% global decline in total payouts, amid divestment from onshore Nigerian oil operations and a focus on deepwater assets aligned with its net-zero goals.
- In parallel, Nigerian authorities are investigating substantial debts and have launched transparency reviews on significant oil asset sales by international oil companies, including Shell.
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