Nigeria’s Minister of Information and National Orientation, Mohammed Idris, has stated that the country is prepared to supply crude oil to help stabilize global energy markets amid rising geopolitical tensions.
The statement was made during an interview with BBC Africa on the sidelines of President Bola Tinubu’s visit to the United Kingdom. It comes at a time when escalating conflict involving the United States, Israel, and Iran has disrupted global oil supply and increased pressure on energy markets.
Idris said Nigeria is willing to support global energy security, emphasizing the country’s readiness to act where necessary.
According to him, Nigeria remains committed to collaborating with other nations to ease pressure in the global oil market, noting that the country can increase supply if required. He stated that the world still depends heavily on crude oil and Nigeria is positioned to contribute meaningfully to meeting that demand.
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The development follows supply disruptions linked to attacks on key energy infrastructure in the Middle East, including damage affecting liquefied natural gas output in Qatar. These disruptions have created shortages in major markets across Europe and Asia, intensifying global energy concerns.
Economic projections indicate that prolonged geopolitical tension could significantly benefit Nigeria’s oil revenue. The Nigerian Economic Summit Group estimates that the country could generate up to ₦30.2 trillion in oil earnings if high crude prices persist due to the crisis.
The situation underscores Nigeria’s strategic role as Africa’s largest oil producer, with potential to act as an alternative supply source during global disruptions.
Source: Nairametrics
