Leaking revenue: how a big tax break to European gas companies has cost Nigeria billions

Leaking revenue: how a big tax break to European gas companies has cost Nigeria billions

Nigeria, Africa’s most populous country, has lost out on US$3.3billion as result of an extraordinary ten year tax break granted by the Nigerian government to some of the world’s biggest oil and gas companies: Shell,
Total and ENI. With this briefing, ActionAid encourages Nigeria and other resource rich developing countries to review their tax incentive policies, to publish those policies and practises and all communications with
corporations pertinent to tax incentives, and to collaborate with other countries to end harmful regional tax competition.

It recommends international companies to be transparent about their finances, including reporting their profits, sales, assets, number of employees and tax payments to governments in each country where they operate (including taxes not paid due to tax breaks).