Nigeria may be heading for another round of inflationary pressure as crude oil prices climb above $100 per barrel following the escalating conflict between the United States and Iran, raising fears of higher petrol prices, increased transport fares and cost of living.

Crude oil prices surged above $94 per barrel on Wednesday, extending their rally to fresh five-week highs as the conflict

Nigeria’s Oil Benchmark Tops $95 Amid Escalating Middle East Conflict

Brent crude oil prices exceed $100 amid Iran conflict. New all-time high by December 31 at 19.5% YES.