Shell Pays $1.4bn Royalty/Tax To Nigerian Government

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Shell Companies in Nigeria in 2016 spent $29.8 million on social investment projects and awarded 94 per cent of their contracts valued at over $0.74 billion to Nigeria companies, while $1.4 billion was paid to the Nigerian government in royalties and corporate taxes, and another $106.8 million contributions made to the Niger Delta Development Company (NDDC) as required by law.

Since 2003, SPDC and SNEPCo have trained over 6,550 Niger Delta youths in enterprise development and have awarded scholarship grants to over 7,652 secondary school students and 4,435 university students in the last six years.

Shell Companies in Nigeria – SPDC, Shell Nigeria Exploration and Production Company, and Shell Nigeria Gas work with government, communities and civil society to implement programmes that have a lasting impact on lives in the Niger Delta and Nigeria as whole.

Social investment activities focus on community and enterprise development, education, health, access-to-energy and since 2016, road safety. This, however, excludes community-driven development programmes and initiatives delivered through the Global Memorandum of Understanding, which focuses on various themes as determined by benefiting communities.

The SERA-CSR Awards is an annual event to celebrate organisations investing resources in the improvement of lives of stakeholders and contributing to the development of Africa through their social performance and investment programmes.

A total of 26 awards were won by corporate organisations and individuals in recognition of their sustainable development and social investment efforts in Africa. Apart from their three winning entries, Shell companies also got nominated in four other categories: Best Company in Poverty Eradication; Best Company in Provision of Clean Water and Sanitation; Best Company in Partnership for Development; and Best Company in Support of SMEs.

Shell Companies in Nigeria have emerged the 2017 best Nigerian companies in sustainability innovation in Africa, beating two other finalists at the 11th edition of the Sustainability, Enterprise and Responsibility Awards for Corporate Social Responsibility held in Lagos at the weekend.

Shell companies also defeated three other contestants to win as the Best Company in Affordable and Clean Energy, and got the second runner-up prize for the Most Socially Responsible Nigerian Company for the year.

“We’re delighted at the continued recognition of our modest support to Nigeria and Nigerians to make life better and to create opportunities to individuals and institutions, particularly in our host communities,” said the Managing Director, The Shell Petroleum Development Company of Nigeria Limited and country Chair, SCiN, Osagie Okunbor.

“We are challenged by these laurels to do even more as CSR remains part of the DNA of the Shell business, and we are striving to improve our partnership with NGOs, government and communities to ensure our people participate more in the execution of programmes and own them for greater sustainability,” Okunbor added.

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Godwin Okafor is a financial journalist, Internet Social Entrepreneur and the Founder Naija247news Media Ltd He has over 16 experiences in journalism, which cuts across traditional and digital media. He started his journalism career in Business Day, Where he was a senior editorial graphic artist, before he left to start Naija247news, An Online Financial Newspaper in 2010. He has won series of awards and he is the chairman of Emmerich Resources Limited, the publisher of Naija247news.com and also sits on the board of Students In Business Awards, (SIBA).

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