Global financial markets faced a seismic shock on Monday as the intensification of the conflict between the United States, Israel and Iran sent crude oil prices soaring above $120 per barrel.
International airlines flying between Nigeria and the Middle East have lost more than ₦7.5bn in revenue after escalating conflict involving the US, Israel, and Iran.
Global oil prices spiked yesterday as Brent crude hit $82 per barrel and WTI sold at $70.91, following attacks on ships near the Strait of Hormuz. Analysts warned that if tensions persist, prices could soar above $100.
OPEC+ has agreed to raise oil output by 547,000 barrels per day in September 2026, as escalating conflict in the Gulf threatens to push crude prices higher.
The Minister of Health and Social Welfare, Muhammad Pate, has disclosed that from 2023 to date, nearly N50 billion has been disbursed directly to Primary Health Centers (PHCs) across Nigeria.
