Middle East Crisis : Nigeria Warns Of Oil Market Disruptions

The Federal Government has called for the immediate de-escalation of rising tensions in the Middle East, warning that renewed hostilities in the Red Sea and the Strait of Hormuz could further destabilise global energy markets and disrupt international maritime trade.

Speaking at a press briefing in Abuja, the Spokesperson of the Ministry of Foreign Affairs, Kimiebi Ebienfa, said Nigeria was deeply concerned about the escalating crisis involving the Houthis in Yemen, the Kingdom of Saudi Arabia, Iran and the United States.

According to him, the security situation poses a serious threat to one of the world’s most strategic maritime corridors, with far-reaching implications for global oil supply chains and international commerce.

“The Federal Government of Nigeria is deeply concerned about the ongoing hostilities and heightened tensions in the Red Sea involving the Houthis in Yemen, the Kingdom of Saudi Arabia, Iran and the United States. These developments pose a serious threat to the security of one of the world’s most critical maritime corridors,” Ebienfa stated.»

The Ministry explained that attacks on commercial vessels, rising insurance premiums, longer shipping routes and increased freight costs are already exerting pressure on crude oil prices, with negative consequences for both oil-producing and oil-consuming nations.

Expressing solidarity with Saudi Arabia over attacks on its oil installations, the spokesperson noted that such developments undermine global economic stability.

“Nigeria sympathises with the Kingdom of Saudi Arabia over attacks on its oil facilities. Such volatility undermines economic stability for both producers and consumers,” he said.»

The Federal Government urged all parties to embrace dialogue and resolve their differences through diplomacy rather than military confrontation.

“We urge the Houthis, the Kingdom of Saudi Arabia, Iran and the United States of America to exercise maximum restraint, prioritise dialogue, and work through established diplomatic and multilateral channels to resolve outstanding issues,” Ebienfa appealed.”

He stressed that Nigeria’s position is guided strictly by its national interest and its long-standing commitment to peaceful conflict resolution.

“We are not taking sides with any of the parties. We are calling for the cessation of hostilities so that they can return to diplomatic efforts in resolving the ongoing crisis,” he added.

The spokesperson also expressed concern over the safety of Nigerians residing in the Middle East, noting that instability in the region directly affects many citizens working in sectors such as oil and gas, healthcare and education.

He recalled that previous missile attacks in cities including Dubai and Kuwait City had impacted Nigerians living in those areas.

Ebienfa reiterated that Nigeria’s foreign policy remains anchored on neutrality, strategic autonomy and non-alignment.

“Nigeria will not take side with party A or party B without considering our national interest,” he said.”

On the situation involving attacks on Nigerians in South Africa, the Ministry described the matter as a major concern, disclosing that the Federal Government has evacuated 1,490 Nigerians from the country while intensifying diplomatic engagements.

According to him, the issue has already been raised at the ECOWAS ministerial level and will also be tabled before the African Union for broader continental action.

The spokesperson said Nigeria continues to evaluate available options in responding to the attacks.

“We have options on the table. We are calculating, measuring and assessing the appropriate response. At the appropriate time, the government will announce its decision.”

He reaffirmed Nigeria’s commitment to peaceful diplomacy, adding that the country remains ready to support regional and international initiatives aimed at reducing tensions, safeguarding critical maritime infrastructure and promoting global peace and stability.

Uju Oparaji, Edited By Grace Namiji