Nigeria Tops Shell's Global Payments with $5.3 Billion in 2024 Disbursements

Shell Plc has released its 2024 Payments to Governments Report, revealing that Nigeria received the highest share of its global payments, amounting to $5,336,840,193—the largest sum paid to any single country out of a global total of $28,095,510,413.

According to the report, Oman and Brazil followed with $4.59 billion and $3.70 billion, respectively.

Shell’s payments to Nigeria comprised:

• Production entitlements: $3.80 billion

• Taxes: $648.7 million

• Royalties: $780.2 million

• Fees: $102.9 million

A detailed breakdown shows:

• The Federal Inland Revenue Service (FIRS) received $648.7 million in taxes.

• The Nigerian National Petroleum Corporation (NNPC) was paid $3.80 billion in production entitlements.

• The Niger Delta Development Commission (NDDC) received $97.26 million in fees.

• The National Agency For Science and Engineering Infrastructure (NASENI) got $3.93 million in fees.

• The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) collected $780.2 million in royalties and $1.73 million in fees.

The report provides a consolidated overview of payments made by Shell and its subsidiaries for the year 2024, in compliance with the UK's Reports on Payments to Governments Regulations 2014 (amended in 2015). The report includes only extractive activities and payments exceeding £86,000 (or equivalent), covering 24 countries. 

“Our operations generate revenue through taxes and royalties for governments around the world. These taxes and royalties are often used by governments to fund essential public services like education, transport and healthcare,” the report said.

“Since 2016 Shell has made mandatory disclosures under the UK’s Reports on Payments to Governments Regulations 2014 (as amended in December 2015). We have published the revenues that our operations generate through taxes and royalties on a voluntary basis since 2012. We believe that being open about our tax payments helps people to understand how much we pay and why.”

“In 2024, Shell paid $18.2 billion in taxes to governments. We paid $12.5 billion in corporate income taxes ($0.5 billion of which were withholding taxes) and $5.7 billion in government royalties.”

Earlier this year, on March 13, 2025, Shell completed the sale of The Shell Petroleum Development Company of Nigeria Limited (SPDC) to Renaissance, following necessary approvals from the Nigerian government.

Shell’s remaining operations in Nigeria include:

• Shell Nigeria Exploration and Production Company Limited (SNEPCo), which pioneered deep-water production at the Bonga field. Since its launch in 2005, Bonga has accounted for nearly one-third of Nigeria’s deep-water output.

• Shell Nigeria Gas Ltd (SNG), a downstream gas distribution firm established in 1998. SNG operates a gas transmission network spanning over 138km across Nigeria, serving various industrial customers.