Nigeria is a major hydrocarbons producer in Africa and its production is the mainstay of the country's economy. Oil and natural gas revenue is the country's primary source of foreign exchange earnings.
Israel’s Energy and Infrastructure Ministry has received more than 11.7 billion shekels (USD 3.8 billion) of natural gas royalties to date, of which more than 1 billion shekels (USD 263 million) were received in the first half of 2023.