Shell Pays Nigeria over $4.5bn in Royalties, Taxes

The oil giant which revealed this in its 2022 Sustainability Report obtained on Wednesday, however, pointing out that Russia’s invasion of Ukraine caused huge suffering and triggered instability in global energy markets and other sectors.

A breakdown of the payment to Nigeria showed that the federal government received $3,035,996,709 as its production entitlements, $711,850,070 as taxes, $691,648,502 as royalties and $81,639,634 as fees.