Africa is becoming a collateral victim of the war between Israel, the United States, and Iran. For example, fuel shortages caused by the blockade of the Strait of Hormuz could disrupt the continent's growth, according to experts.
Almost all African countries rely on imports for their petroleum product needs. They only have fuel reserves for 15 to 25 days, while the International Energy Agency standard is 90 days.
In Nigeria, fuel prices at the pump are skyrocketing, making the population victims of a conflict taking place thousands of kilometers from their country.
"I don't understand the point of this war. We're not involved in this conflict, and yet we're the ones suffering the consequences. I mean, look at the distance. It's the Iranians and the Americans who are at war, and yet we're the ones suffering the consequences. I don't understand why this is happening," says Rasheed Ayinla, a tricycle driver.
Freight costs, docking fees, tourism, food, transportation, and more—the soaring price of crude oil is impacting every sector. In Nigeria, consumers are bitter about rampant inflation.
"If you have a lot of money lying around somewhere, make sure you stock up on essentials at home, because we don't know how high the prices will go. Products are getting more and more expensive—for example, two days ago they were selling at normal prices, but today they are more expensive than two days ago. If you have money, buy essentials," warns Dolapo Sanusi, a consumer.
Faced with this situation, African governments must mitigate the impact through immediate fuel rationing and subsidies, according to experts. These experts also suggest investing in alternative energy sources such as hydrogen and methanol.
Violent explosions rocked Tehran on Friday evening, hours after the United States vowed to intensify its airstrikes against Iran and reportedly sent Marines and more warships to the Middle East. After two weeks of conflict, the Islamic Republic has become even more defiant, launching drone and missile attacks against its neighbors and maintaining its grip on the Strait of Hormuz in the Persian Gulf, which has sent oil prices soaring.
