In the spirit of transparency, the company listed all 17 awardees of the contract.

It raised concerns about different rules in force across the states and 46 separate taxes applying to operators in the market.

Neither Israel nor the Palestinian territories are major oil producers, but proximity to key oil-producing nations like Iran and Saudi Arabia has triggered anxieties.

Austin Avuru said Nigeria would need $25b investment in 10 years to increase crude oil output.

It said the Tinubu administration’s economic reforms need to regain momentum as there are signs of things going awry.

“The reason we are paying subsidy today is because our exchange rate has run away and if we continuously allow it to run, it will be a nightmare for everyone.”

He said indigenous operators are flouting Nigeria’s content law.

Nigeria has the largest economy in Africa, with a gross domestic product (GDP) of $477bn as at 2022.

He pointed out that the entities offer profits that are too good to be true, leading to devastating losses for many.

They asked that foreign exchange for importing fuel should be pegged at N600 for the next three months.

Annett Günther ssid no fewer than 90 German companies operate in Nigeria with over 17,000 jobs directly created.

He has been part of the business world. He is determined and committed to repositioning this nation.”

The ELI Akaso is set to address challenges around exporting and storing crude.

“This is our next oil, and that is why we are here.”

The report forecasted a deceleration of economic growth in Sub-Saharan Africa to 2.5 percent in 2023, from 3.6 per cent in 2022.

The Indonesian government aims to protect local physical and online retailers.

Global rollout remains uncertain during testing.

He said every naira saved from subsidy removal must be spent on Nigerians, particularly lower middle-class.

It says supply will focus on the its domestic market.

Oyetola said this move will support economic growth and create more job opportunities.