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Shell paid N1.5tr to Nigeria in 2017, 15% of the country’s income

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According to the annual payments report released by the Royal Dutch Shell On Monday, the oil giant paid a total of $4,322,742,582 (about N1.5 trillion) to the Nigerian government in 2017.

The publication was titled “Report on Payments to Governments for The Year 2017”.

In the report, Shell said $3,197,530,557 is for production entitlement, $765,526,389 in taxes, $245,769,306 in royalties and $113,916,331 in fees.

The given sum means Shell alone contributed about15 per cent of the country’s income.

In 2017, Nigeria earned a total revenue of N10.6 trillion from both oil and non-oil sources according to CBN Economic Report.

Furthermore, the total paid to Nigeria by Shell is the highest to any of the 29 countries where the international oil company operates.

The closest country to Nigeria is Malaysia, which received $4,153,062,216, followed by Norway with $3,425,577,190, Iraq with $$3,390,644,228 and Brazil with $1,569,519,784.

A further breakdown shows that Shell paid $3,197,530,557 to the Nigerian National Petroleum Corporation (NNPC), $79,675,241 to Niger Delta Development Commission (NDDC),

$280,010,396 to Department Of Petroleum Resources (DPR) and $765,526,389 to the Federal Inland Revenue Service (FIRS).

The total payments made to 29 governments come to $22,408,521,077, 20 percent of which came to Nigeria.

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