Seplat paid $564.17m to Nigerian govt in 2020
Seplat Petroleum Development Company Plc announced on Monday that it paid a total of $564,165,102 to the Nigerian government last year.
The Nigerian independent oil and gas firm said it paid $389,575,992 to the Nigerian National Petroleum Corporation as production entitlement while $21,239,383 was paid in taxes to the Federal Inland Revenue Service.
It said $130,009,108 went to the Department of Petroleum Resources for royalties and fees, while $17,934,968 was remitted to the Niger Delta Development Commission.
Seplat paid $4,826,290 fees to the Nigerian Content Development and Monitoring Board, while $579,361 to the Nigeria Export Supervision Scheme, according to its report on payments to governments for the year 2020.
The firm said payments made to governments arising from activities involving the exploration, prospection, discovery, development and extraction of minerals, gas processing, oil and natural gas deposits or other materials (extractive activities) were disclosed in the report.
“It excludes payments related to refining, natural gas liquefaction or gas-to-liquids activities. When payments cover both extractive and processing activities and cannot be split, the payments have been disclosed in full,” it said in the report signed by its Chief Financial Officer, Mr Emeka Onwuka.
