Nigeria got $5.336, 840,193bn from Shell, which is the highest payment of the energy giant globally in 2024. The figure represents a significant rise from the $3.8 billion Shell paid to Nigeria in 2023. The energy major paid a total of $28.095, 510,413bn globally in 2024.
Out of the $5.34bn Shell paid to the country, production entitlement was $3.804, 949,166bn, taxes, $648,734,398, royalties, $780,231,463, and fees, $102,925,166.
These were contained in a ‘Report on payments to government,’ which was published by Shell and seen by Saturday Telegraph yesterday.
This report provides a consolidated overview of the payments to governments made by Shell Plc and its subsidiary undertakings (Shell) for the year 2024 as required under the UK’s Reports on Payments to Governments Regulations 2014 (as amended in December 2015).
Shell’s total payment of $5.34 billion to Nigeria in 2024 was disbursed across multiple federal institutions and agencies involved in petroleum revenue administration and regional development.
The payments comprised part of the $28.1 billion Shell disbursed globally in 2024 to governments for extractive activities, a 5% year-on-year decline in total payouts that mirrored a broader drop in profitability.
The data showed that over 71%, the highest share of the $5.34 billion, was paid to the Nigerian National Petroleum Company Limited (NNPC Ltd), amounting to $3.8 billion.
A breakdown of the payments showed that NNPC Ltd received $3.804,949,166bn, Federal Inland Revenue Service (FIRS): $648,734,398, Nigerian Upstream Petroleum Regulatory Commission (NUPRC): $781,963,813, Niger Delta Development Commission (NDDC): $97,260,899, National Agency for Science and Engineering Infrastructure (NASENI): $3,931,917
The payments form part of the $28.1 billion Shell disbursed globally in 2024 to governments for extractive activities, a 5% year-on-year decline in total payouts that mirrored a broader drop in profitability.
According to the report, Oman came second as it received $4.588,673,819bn, Norway got $3.384,306,056bn. Brazil, $3.697,940,247bn, Norway, Qatar, $3.339,236,685bn and Malaysia, $3.122,936,530bn.
In Europe: Germany got $243,935,441, Italy, $158,562,631, Italy, United Kingdom, -$5,166,218. In Asia, Brunei received $56,873,353, China, $10,343,616, India, -$17,715,638, and Kazakhstan, $242,741,780.
