‘Shell Paid N6.7 Trillion To FG In 4 Years’

The federal government collected $42billion (or 6.7 trillion) revenue from Shell Petroleum Development Company of Nigeria Ltd (SPDC) between 2008 and 2012.

The SPDC also paid $5.2 billion as royalties and taxes to the federal government in 2012 alone.

The chairman of Shell Companies in Nigeria, Mr. Mutiu Sunmonu, made this disclosure yesterday during the presentation of the group’s 2012 Sustainability Report.

He revealed that 95 per cent share of revenue after costs goes to the federal government from each barrel of oil SPDC produces.

But sequel to the decommissioning plan of its facilities in Ogoniland, the SPDC had commenced taking inventory of its assets in the area in line with the recommendations of the United Nations Environment Programme (UNEP) report. Read more

About Author: Integrity Org

Integrity Organization is committed is an anti-corruption, research and advocacy organization. Its activities are centered on the aim to reduce the tolerance for corruption in Nigeria.

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