Shell’s payments to Nigeria increase, assets sale lingers on

Shell’s payments to Nigeria increase, assets sale lingers on

The major’s taxes and royalties rose by 38% in 2021 in the West African jurisdiction, while an environmental dispute slows its plan to sell off most of its assets there.

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            ▪ Shell’s payments to Nigeria increase, assets sale lingers on

▪ The major’s taxes and royalties rose by 38% in 2021 in the West African jurisdiction, while an environmental dispute slows its plan to sell off most of its assets there.

https://www.africabusinessplus.com/en/811674/shell-pays-hugely-to-exit-nigeria/

British oil company Shell, led by Dutchman Ben van Beurden, seeking to divest the majority of its onshore portfolio in Nigeria, paid a sharp increase in taxes and royalties to the government for the 2021 financial year. All operations combined, the group has recorded a total of $4.48 billion, a figure more than 38% higher than in 2020.

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