The latest escalation involving the United States, Israel and Iran may be unfolding far from Nigeria’s borders, but economically it lands much closer to home. Reuters reported on March 1 that Brent crude jumped about 10 percent in over-the-counter trading to around $80 per barrel, with analysts warning that prices could move toward $90 to $100 if disruption persists. The market’s anxiety is easy to understand. More than 20 percent of global oil moves through the Strait of Hormuz, and Reuters says most tanker owners, oil majors and trading houses have already suspended crude, fuel and LNG shipments through that corridor. Rystad estimates that even after rerouting some flows through alternative pipelines, a closure could remove 8 million to 10 million barrels per day from effective supply. For Nigeria, this is the classic oil-state contradiction. What enriches the treasury can simultaneously squeeze households, unsettle businesses and reawaken inflationary pressure across the wider economy.