The royalties and corporate taxes paid by Shell to the Nigerian government last year increased to $1.4bn from $1.1bn in 2015 on the back of the rise in crude oil prices, while the Shell Petroleum Development Company-operated joint ventures alone contributed $29bn to the federation’s purse between 2012 and 2016.

The royalties and taxes would have been higher but for the resurgence of militant attacks on oil and gas facilities in the Niger Delta that caused the nation’s production to plummet to a near 30-year low last year.

Shell-operated ventures in Nigeria recorded an output of 572,000 barrels of oil equivalent per day in 2016, down from 688,000 boepd in 2015.

The Country Chair, Shell Companies in Nigeria and Managing Director, SPDC, Mr. Osagie Okunbor, stated these at the presentation of the 2017 Shell Nigeria Briefing Notes.

Okunbor, who was represented by the Communications Manager, Shell Nigeria, Mrs. Sola Abulu, said, “Shell remains strongly committed to the development of Nigeria. Shell has been operating in Nigeria for more than 50 years.

“And it is not by chance that we have remained deeply committed to the development of Nigeria, her people and her economy by efficiently and responsibly producing oil and gas in onshore and offshore as well as distributing gas to industries and producing liquefied natural gas for export.”

Okunbor said the determination of Shell to support the monetisation of the nation’s huge gas resources led it to establish Shell Nigeria Gas in 1998, with current supply of gas to about 90 industrial customers in Ogun, Rivers and Abia states for power generation and processing by industries for the manufacture of domestic products.

He explained that the oil major paid special attention to the welfare of host communities, making Nigeria the second largest recipient of social investment spending in the Shell Group after the United States.

He said in a bid to involve more Nigerian contractors in its operations, the Shell Contractor Funding initiative was expanded with eight participating banks committing about $2.2bn to fund contract execution by indigenous companies working for Shell Companies in Nigeria.

According to Okunbor, since the programme’s creation in 2011, loans worth approximately $1bn have been awarded to 220 Small and Medium-Enterprises with no recorded defaults on repayment.

http://investorsking.com/nigeria-gets-29bn-from-shell-jvs-in-four-years/

Buhari sef

Hmmmmmmm




This is money , yet nothing to show for it

With all these figures we are hearing Nigeria should be more beautiful than Dubia, but some greedy people turn there homes,lives n Families alone into Beautiful Dubia, the thunder that will strike them won't give them quick notice.......
What do pain me is that wen they are suffering only dem suffer, Like d Former Governor of Niger state now, I didn't c his wife nor children with him in detention.

the title of this post should be "shell pays $29billion to Nigerian politicians in four years"

Truth234:


He explained that the oil major paid special attention to the welfare of host communities, making Nigeria the second largest recipient of social investment spending in the Shell Group after the United States.
/

.

Yet nothing to show for it not even electricity.

Issoke

Una Try.

Money

We've got a lot of money in this country yet it not reflecting in the life of a common man on the street

So much money

That statement should be changed to...
"And it is not by chance that we have remained committed to Buhari, his ministers and the economy of their stomachs"

More money for buhari and his boys

Ok. Nice to know.

No corruption with APC regime so part of this cash should be used wisely this time around

Money we didn't knw any tin about make dem park well , if it does not affect d average man , it not relevant to our health , make man nor get high BP as dem dey call d figures

Hmmm

You can Imagine.. t thought they said no money in the country...and becos we don't have good hands in the economy that's why the country is what it is now.

So much money but nothing to show in d life of d common man on d streets

I need to ask, should we blame GEJ as ussual?

This money alone should be able to fix Nigerian electricity problem once and for all

Yet one Idiot will tell me that Nigeria is broke.

websolushun:
.

Yet nothing to show for not even electricity.

In everything that we do in this country,y must there always be the Nigerian factor which makes things that work outside the shores of this country not work when same is done here.....

Ok.



In Other news
Antitrust/ everlasting water stanchion tower/ tank stand at whatever height and water capacity you plan on achieving.

delishpot:
I need to ask, should we blame GEJ as ussual?

Please how do we stop blaming GEJ with all this revelation. It will take nothing less than 10 years to stop calling GEJ on every political discussion in this country, because those money will keep coming back like memory. 2011to 2015, we made too much money with too little impacts on Nigerian life and yet the foreign reserve was depleted to all time low during the same period, he was a colossal failure.

This is part of the money that Sanusi reported stolen during GEJ the wonder president administration which he and his blind corrupt supporters proclaimed where we can get that kind of money from and how America will not know if it was stolen!!!

websolushun:
.

Yet nothing to show for not even electricity.

you are right ..Nigeria is the reason why blacks are not respected .....we are just too unproductive

...while magnificent burj khalifa amount to only one billion dollars.



Is a big shame to be called a Nigerian

Beneficiaries: Dasuki, Andrew Yakubu, Diezani, Adoke, NIA DG, Badeh, Obanikoro, Anenih, etc.

Wonder why this thread is being avoided by Nairalanders. Too early to read about so much money?

If you guys are having high BP on Shell alone then you will collapse when you add the royalties paid by Mobil, Chevron, Total,.....etc

And yet the economy is in a seemingly perpetual commatose?
This d.amn country is overdue for a re-colonisation!