Nigeria

2,761 Employees

THIRD-PARTY REVENUES

$1,421,062,992

RELATED-PARTY REVENUES

$3,051,166,490

TOTAL REVENUES

$4,472,229,482

PROFIT BEFORE TAX

$2,175,463,694

TAX PAID

$851,002,099

TAX ACCRUED

$906,587,920

TANGIBLE ASSETS

$8,647,322,113

STATED CAPITAL

$1,526,654,918

ACCUMULATED EARNINGS

$2,540,891,126

Main Business Activities

  • Upstream and Integrated Gas
  • Other support activities

Shell has been present in Nigeria for more than 60 years. Our activities include oil and gas exploration and production.

In 2019, about 10% of Nigeria's domestic gas and about 13% of Nigeria's grid-connected electricity were supplied by the joint venture Shell Petroleum Development Company of Nigeria Ltd. (SPDC). SPDC is the operator of a joint venture agreement in which the Nigerian National Petroleum Corporation (NNPC) holds 55%, and Shell 30%. Shell Nigeria Exploration and Production Company Ltd. (SNEPCo) was set up in 1993 to develop and produce Nigeria's deep-water oil and gas resources. SNEPCo holds interests in four deep-water blocks, two of which it operates: OML-118 (Bonga field) and OML-135. It also has a 50% interest in OPL-245, which is operated by Agip, and a 43.75% interest in OML-133, operated by Esso. Shell Nigeria Gas Ltd. operates a gas transmission and distribution network in Nigeria.

Country Financial Analysis

The statutory corporate income tax rate in Nigeria is 85% for onshore operations, 50% for offshore operations and 30% for other operations, including gas.

Shell has several natural gas projects still in the exploration, development or construction phases. Divestment of producing assets and vandalisation of assets and pipelines in the Niger Delta in recent years have negatively impacted production levels. Shell paid tax in 2019 on profits from producing assets.

Our Payments to Governments Report for 2019 shows that Shell paid around $4.6 billion in , and fees.

Production entitlement
This is the host government’s share of production. It includes the government’s share as a sovereign entity or through its participation as an equity or interest holder in projects within its home country.
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Royalties
Royalties are generally payment due for the use of an asset. Mineral royalties are payments to governments or other owners for the rights to extract oil and gas resources, typically at a set percentage of revenue less any deductions that may be taken. See also Trademark royalties.
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