Twelve Days In: The Toll of the Middle East Conflict on Nigerian Citizens

The ongoing conflict between the United States, Israel, and Iran is sending shockwaves far beyond the Middle East, with Nigeria being one of the countries feeling the effects, particularly in the petroleum market, where Depot owners and oil marketers are holding firm.

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The price of petrol has surged significantly since tensions escalated, with fuel that was previously sold for around ₦800 per litre now costing between ₦1,200 and ₦1,300 in some areas, leading to higher transportation costs as transport operators adjust their fares to account for rising expenses.

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The increase in fuel prices is having a ripple effect on the daily lives of many Nigerians who rely on public transportation and other services tied to fuel costs, as they struggle to cope with the rising costs of transportation and other essential services.

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Despite a drop in crude oil prices, petrol retail outlets in Abuja have retained the high pump price of petrol implemented the previous day, with most marketers refusing to reverse the hike they introduced on Monday, which saw prices rise from N1,092 per litre to N1,115 and finally to N1,330 per litre.

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At filling stations in the Central Area of the city, NNPC Retail outlets were still dispensing fuel at N1,285 per litre, while AA Rano and AYM Shafa were selling at N1,330 per litre, indicating that the price hike is still in effect.

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However, there are signs that the transportation sector is starting to adjust to the new reality, with fares on some routes in Area 8, Garki, and Central Area dropping from N1,500 to N1,200, and the fare from Area 8 to Nyanya reducing from N1,000 to N800.

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According to oil and gas sector governance expert, Mr. Henry Adigun, there is hope that the conflict in the Middle East will soon come to an end, but he cautioned that it may take around four weeks after the hostilities cease for crude oil prices to return to normal.