Shell companies in Nigeria, namely Shell Petroleum Development Company (SPDC) and Shell Nigeria Exploration and Production Company (SNEPCO) says it paid a total of $1.36 billion as corporate income taxes and royalties to the Federal Government in 2022.
The company which disclosed this in its Shell Briefing Note 2023, said the two companies also paid about $79.77 million as mandatory contribution to the derivation revenue to the Niger Delta Development Commission (NDDC), apart from award of contracts valued at $1.9 billion to Nigerian registered contractors.
As a demonstration of their commitment to renewable energy, the companies said it supported various renewable impact investment initiatives with over $200 million.
These companies, Shell said, also provided funds for the expansion of the DART programme with an additional commitment of $23 million for investment in renewable energy.
On their investment in the education sector, the companies said about 3,500 University grants were disbursed to various beneficiaries during the period under review, while 990 cradle-to-career scholarship grants were awarded by companies including Shell Nigeria Gas (SNG) since 2016.
In addition, the companies said they also provided assistance to Lagos and Bayelsa States for some educational infrastructure projects worth about $15 million.
Also, they said over 92, 000 people have so far benefited from the company’s Community Health Insurance scheme since 2010, while the direct and social investments made by both SPDC, SNEPCO, and SNG in 2022 was about $34 million just as $106 million was disbursed by SPDC JV to communities through the Global Memorandum of Understanding (GMOUs) since 2017.
“There were 220 Nigerian beneficiaries of the Shell Live Wire entrepreneurship programme. There are 2,500 employees in Shell companies, 97 percent of them are Nigerian nationals. In addition, about 10,000 contractors are supporting the operations of these companies.
To support victims of the devastating flood that occurred in 2022, Shell said it donated about $1 million to communities impacted by the flood.