Shell Paid $3.638 Billion To Nigeria In 2016

Royal Dutch Shell Plc, a Netherlands Oil Company, in its latest Report on Payments to Governments for the Year 2016 that was released June 2017 disclosed it paid $3.638bn to the Nigerian government in 2016.

According to the report, out of the 31 countries, Shell paid revenue to in 2016, Nigeria got the highest.

Shell, further, disclosed it paid $2.172bn to the Nigerian National Petroleum Corporation (NNPC) as production entitlement, $1.18bn to the Federal Inland Revenue Service as taxes, $160.71m and $239,189 to the Department of Petroleum Resources as royalties and fees, and $125.14m to the Niger Delta Development Commission as fees.

The report shows that Malaysia got $2.67bn making her the second highest recipient, while $2.53bn, $1.61bn and $1.07bn was paid to Norway, Iraq and Oman, respectively in the same year.

In a further breakdown, the report shows that Qatar, India, the United Kingdom, the United States and Brazil got $55.6bn.

The report was put together in adherence to the UK’s Reports on Payments to Governments Regulations, 2014 (as amended in December 2015).

This recent report makes it the second issued by Shell under the UK regulations.

According to Shell, “Tax binds governments, communities and businesses together.

The company argues, they are happy to make the report available, and that revenue transparency provides citizens with important information to hold their government accountable which will advance good governance.

The company assured of its commitment to transparency, arguing that it is the only way to build trust.

Shell says transparency is fundamental in their business, it reflects their core values of honesty, integrity and respect for the people.

According to Shell, by fulfilling the mandatory disclosures in adherence to UK legislative requirements, we have demonstrated that extractive activities are a good opportunity for government revenue, economic growth and social development.

In its anti-corruption approach in the oil and gas, Shell disclosed, we do not tolerate direct or indirect offer, payment, solicitation or acceptance of bribes in any form.”

Publish What You Pay-Nigeria