Many observers characterize the battle between the United States and Iran as the fight that nobody wants.
The protracted conflict serves neither party, and the world economy as a whole most definitely does not.
However, history demonstrates that these kinds of reluctant conflicts—slow escalations that alter markets, supply chains, and strategic infrastructure—cause some of the most significant disruptions.
The consequences are more urgent than they might initially seem for Nigeria’s digital infrastructure industry.
The energy markets have certainly been affected by the war. As of the beginning of this month, the price of a barrel of crude oil fluctuates between $110 and $113. As of Monday, April 6, fuel prices in Nigeria were between N1450 and N1300 due to this.
Nigerians are feeling the heat as tensions in the Strait of Hormuz, a maritime corridor through which about one-fifth of the world’s oil and gas flows, continue to drive up energy costs and interfere with operations throughout sections of the Middle East.
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