The Sea Empowerment and Research Center (SEREC) has warned that escalating tensions between the United States and Iran could trigger significant economic and security challenges for maritime nations across Africa.
In a communiqué signed by its Head of Research, Eugene Nweke, the centre said import-dependent economies within the African Union are particularly vulnerable to the fallout from the geopolitical tensions.
According to the statement, rising global oil prices and shipping costs could worsen fuel and food inflation in African countries, while putting additional pressure on already fragile national currencies.
Nweke warned that any prolonged disruption in global shipping routes could lead to sustained oil price volatility, increased freight rates, higher war-risk insurance premiums and broader global inflationary pressure.
The centre also cautioned that maritime security could come under greater strain as shipping lanes become more volatile, urging African states to strengthen naval coordination and surveillance to safeguard major trade corridors, particularly in the Gulf of Guinea.
SEREC recommended that Nigeria and its regional partners channel potential oil windfall revenues into economic stabilisation and infrastructure development rather than recurrent spending.
The group also urged the government to guarantee consistent crude supply to domestic refineries, expand strategic petroleum reserves and deepen regional trade integration to reduce reliance on unstable extra-African shipping routes.
It added that stronger maritime security cooperation across the Gulf of Guinea would be essential to protect regional trade and shipping activities.
The communiqué stressed that Nigeria’s economic resilience will depend not only on crude oil revenues but also on disciplined fiscal management, domestic refining efficiency and trade diversification.
It warned that without coordinated national policies, the potential stabilising impact of the Dangote Refinery could be weakened.