The escalating tensions between the United States and Iran pose significant economic and security risks to African maritime nations, warns the Sea Empowerment and Research Center (SEREC). The Centre highlights the far-reaching implications for import-dependent economies across the African Union, with rising global oil prices and shipping costs likely to translate into higher fuel and food inflation, while currency depreciation pressures may intensify Oil Price
Prolonged disruption could trigger sustained oil price volatility, freight rate escalation, war-risk insurance spikes, and global inflationary pressure.
Shipping routes may become more volatile, requiring African nations to expand naval coordination and surveillance to safeguard trade corridors, particularly in the Gulf of Guinea.
The communiqué stresses that Nigeria’s resilience will depend on disciplined fiscal management, domestic refining optimization, trade diversification, and maritime competitiveness