Admin l Wednesday, April 07, 2021
NETHERLANDS – The Federal Government of Nigeria received total sum of USD 3, 243, 223, 518 from the Royal Dutch Shell(Shell) for the year 2020.
Shell made the revelation in its sustainability report for the year 2020. Out of the USD 3.243 trillion, Shell said it paid USD 2, 277, 898, 173 to the Nigerian government through the Nigerian National Petroleum Corporation(NNPC) as its production entitlement, USD 440, 398, 429 as taxes(FIRS), USD 446, 926, 575 as royalties to government and another (USD 4,580, 718 to the Department of Petroleum Resources).
Shell also paid USD 78, 000, 342 as fees to the Federal Government, out of which USD 73, 419, 624 was paid to the Niger Delta Development Commission (NDDC).
“In 2020, Shell paid $47.3 billion to governments. We paid $3.4 billion in corporate income taxes and $3.5 billion in government royalties. In addition, we collected $40.4 billion in excise duties, sales taxes and similar levies on our fuel and other products on behalf of governments”, Shell noted.
In his introduction to the report, Shell Chief Executive Officer Ben van Beurden said the COVID-19 COVID-19 pandemic changed the world and people’s lives in ways never have imagined in the year 2020.
“It was a tough year for everyone. It was a tough year for Shell, but also a year when we set a clear path for our future.
“We refreshed our business strategy and, when we announced it in February 2021, we called it Powering Progress. Powering Progress sets out our goals for powering lives and livelihoods, and respecting nature by protecting the environment. It lays out how we believe Shell can and must play a role as the world accelerates towards a future of zero- and lower-carbon energy,” he said.
The Sustainability Report sets out Shell’s progress in the transition to a lower-carbon world and its contribution to society, which includes helping to achieve universal access to cleaner, affordable energy.
The report also includes details of the Net Carbon Footprint of energy products Shell sold each year from 2016 to 2020.