The escalating war between the United States, Israel, and Iran is now causing major disruptions in Nigeria. Consequently, hundreds of travellers are stranded at international airports in Lagos and Abuja.
Major airlines like Emirates and Qatar Airways have stopped their flights to and from the region following the closure of airspaces across the Middle East for the third day.
Federal authorities warned that several scheduled flights are now cancelled. Specifically, over 560 passengers were asked to leave their planes on Saturday after Qatar and the UAE closed their skies.
Many Nigerians are also stuck in transit hubs like Dubai and Doha.
Travel agents have advised the public to stop all new bookings for now. They say the situation is very volatile and unpredictable.
Rising Fuel Costs at Home
The conflict has also triggered a sharp increase in fuel prices across Nigeria.
On Monday, the Dangote Petroleum Refinery increased its gantry price for petrol to ₦874 per litre.
This is a ₦100 jump from the previous price. As a result, many filling stations in Lagos and Abuja are now selling petrol for as high as ₦950 per litre.
Some economists predict the may get worse before it gets better, with price projection crossing the ₦1,000 mark if the war continues.
They allege that the rise in global crude oil prices is the main reason for this hike. Since Nigeria imports much of its refined fuel, the war in the Middle East directly affects local costs.
Furthermore, the price of aviation fuel, known as Jet A1, is also climbing. This will likely lead to much higher prices for domestic and international flight tickets.
The federal government says it is closely monitoring the situation, although itself will be a beneficiary of higher oil prices as its oil receipts will likely surge.
Meanwhile, the Ministry of Foreign Affairs has issued a security advisory to Nigerians living in the Gulf region.
They told citizens to avoid sensitive areas and stay safe. The state also warned that shipping delays could raise the cost of other imported goods soon.
Nigeria had successfully brought down inflation from 35% just a year ago to just over 15%, now with higher energy goods import costs, that economic relief may soon be wiped off.
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