“SHELL HANDS OVER $5.34BN TO NIGERIA IN TAXES, HIGHEST GLOBAL PAYMENT”
GREATRIBUNETVNEWS–Shell Plc has disclosed that it paid $5.34 billion in taxes and other charges to the Nigerian government in 2024, marking the highest payment made to any country where the company operates.
The company, said that the payments to Nigeria increased from the previous year whereas the proceeds came as the oil and gas giant is on the verge of leaving Nigeria’s onshore production business after many decades of controversial operations.
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Shell, which released the figures late last week in a disclosure required under UK law, will continue to produce oil in the waters off the west Africa nation.
Oman, Brazil and Norway, where Shell has significant operating footprints, were next on the payments list after Nigeria and together received approximately $11.7 billion. The report published on Thursday covers charges related to extractive activities.
Overall, Shell paid governments around the world about $28.1 billion in taxes and charges related to its extractive activities in 2024, down nearly 5% from 2023. Shell’s full year adjusted earnings in 2024 were $23.7 billion, a roughly 17% decline from 2023.
