BUSINESS
Report: SPDC JV Paid N5.31 Trillion To Nigeria Government In 4 Years
Shell Petroleum Development Company, (SPDC), joint partner’s economic contribution to the Nigerian government between 2013-2017 is $23 billion (N5.31 trillion).
The monies were paid under the joint venture agreement between government-owned Nigerian National Petroleum Corporation (NNPC 55% share), SPDC, (30% share), Total E&P Nigeria LTD (10%) and the Eni subsidiary Nigerian Agip Oil Company Limited (5%).
Shell’s share of royalties and corporate taxes paid to the federal government in 2017 stood at approximately $1.1billion (N333.33 billion), SPDC $0.4billion; SNEPCo $0.7 billion).
This was contained in latest edition (April 2018) of “Shell In Nigeria Briefing Notes” which was presented to journalists in Warri, Delta state on Thursday.
The copy of the document which was obtained by BigPen Online shows Shell also paid $1.9 billion to the Niger Delta Development Commission(NDDC) since inception in 2002.
According to the report, the oil bearing communities social investment funds for community-driven projects under the Global Memorandum of Understanding (GMoU) was $228 million (N41.10billion).
The company stated that 94 per cent of Shell contracts was awarded to Nigeria companies in 2017 while 631,000 barrels of oil equivalent per average daily production by Shell-operated ventures in Nigeria in 2017.
As part of effort to support local content, develop human resources, Shell in 2017 spent about $0.76 billion (N230.30 billion) on contracts awarded to Nigerian companies.
The report says between 2012 and 2017, the Nigeria Liquefied Natural Gas Company Limited (NLNG) of which Shell contributes 25.6% share, has committed over $45 million (N14.19 billion) to social investment projects in the Niger Delta region.
According to the report, Shell is also contributing $49 million (15.36 billion) to the construction of the 34-kilometer Bonny-Bodo road project estimated to cost more than $190 million (N60 billion) as part of federal government socio-economic integration of the Niger Delta region.
The report says Shell Nigeria Gas Limited (SNG), another of its sister firms supplies natural gas to about 90 industrial and commercial customers, majority of which at in Ogun, Rivers and Abia States, adding that the gas is used for power generation and for the manufacturing of domestic products.
The presentation was made by senior SPDC’s officials including Head, Government and Community Relations, Alaye Dokubo; Head Community Interface, Evans Krukrubo, Community Interface Coordinator, Jerry-Gaultney Udjo, as well as Shell Petroleum Development Company, Media Relation Manager, Bam Olugbenga Odugbesan, (SPDC West)’s Media Relations Officer, Mr. Joseph Obari, Precious Okolobo among others.
Written by Joe Ogbodu
Uzodimma: Nobody Can Take My Imo West Senate Ticket
Son Allegedly Kills APC Chieftain Father With Sledgehammer In Edo Over Prophecy
INEC Removes 1.6 Million Invalid Voter Records, Flags 54 Officials
How INEC Counts, Collates and Declares Nigeria’s Presidential Election Winner
Ozoro Curfew Relaxed To 10pm, Knock-Out, Unregistered Okada Banned After Cult Clashes
Oborevwori Cuts Warri Ring Road, PTI-Eku Road Timelines As Delta EXCO Approves N1.24trn 2027 Budget
Babcock 400-Level Student Alive After Viral Hostel Window Incident — Roommates Saved Him, Varsity Confirms
Pastor Tunde Bakare: I Told Tinubu I’m Too Old To Be A Minister
Oil Theft: Navy Arrests 259 Suspects, Recovers 7.48m Litres Of Stolen Products
2027: Makinde Dares Political Godfathers, Says God, Nigerians Will Give Him Presidency
Obasanjo Blames Leadership Failures for Nigeria’s Insecurity, Poverty, Mass Migration
50 Years Later, In The Same Hall Built For FESTAC ’77: Afreximbank Finally Puts Money Behind Film About FESTAC ’77
‘They Were Warned’: Delta Govt Says Asaba Death Could Have Been Avoided If NDC Had Not Ignored Police Advice
Minimum Wage: NLC Rejects FG’s 2027 Timeline, Demands Immediate Talks
Lagos Shuts Church After Resident Complains of Sleepless Nights, Threats
