Iran–US War: Nigeria nust act before another poverty crisis

Let the Iran-US war not become another Nigerian poverty crisis

LET THE IRAN–US WAR NOT BECOME ANOTHER NIGERIAN POVERTY CRISIS

An Urgent Appeal to All Nigerians

By Omo-Bashorun Bayo Lawal
President, Legacy Foundation for Poverty and Inequality Eradication
legacyfoundation1302@gmail.com

The continuing war between the United States and Iran has entered a dangerous new phase, with consequences that extend far beyond the Middle East.

What began as a military confrontation is increasingly threatening global energy security, international shipping, food prices and the livelihoods of millions of ordinary people around the world.

Nigeria must not wait until the consequences become unbearable before taking steps to protect its people.

As President of the Legacy Foundation for Poverty and Inequality Eradication, my greatest concern is not simply the price of crude oil. My greatest fear is that prolonged disruption to global energy and shipping routes could trigger another devastating wave of poverty and inequality among Nigerians already struggling with the high cost of living.

That is why I am making this urgent appeal.

THE DANGER IS ESCALATING

The latest developments are deeply concerning.

Saudi Arabia has temporarily shut down its critical East-West oil pipeline following a drone attack. The 1,200-kilometre pipeline has served as an important alternative route for Saudi oil exports when the Strait of Hormuz is disrupted. It has reportedly carried between four and five million barrels of oil per day, representing a significant share of global supply.

At the same time, Iran continues to exert pressure around the Strait of Hormuz, while Iran-backed Houthi forces have increased activity around the Bab el-Mandeb, another strategic gateway for global shipping.

The potential disruption of more than one major energy and shipping corridor poses a serious risk to the global economy. Oil prices have consequently surged, and this should concern every Nigerian.

NIGERIA MAY EARN MORE, BUT NIGERIANS MAY ALSO PAY MORE

There is an apparent contradiction at the heart of this crisis.

As an oil-producing country, Nigeria can potentially earn more when international crude prices rise. Increased oil revenue could strengthen government finances and foreign-exchange earnings.

But the same crisis could simultaneously make ordinary Nigerians poorer.

Higher international energy prices can translate into increased costs of petrol, diesel, transportation, electricity generation, manufacturing, agriculture, fertiliser, logistics, food distribution, construction and imported goods and services.

The chain reaction is straightforward:

War → energy disruption → higher oil prices → higher production and transportation costs → higher prices → reduced purchasing power → deeper poverty.

That is the danger we must prevent.

MY FEAR IS FOR THE ORDINARY NIGERIAN

I fear for the market woman whose transportation costs increase.

I fear for the farmer whose diesel and fertiliser become more expensive.

I fear for the artisan whose customers can no longer afford his services.

I fear for the manufacturer whose production costs become unsustainable.

I fear for the student whose family can no longer comfortably meet school expenses.

I fear for the young graduate already struggling to find employment.

I fear for the pensioner whose income cannot keep pace with inflation.

And I fear for the millions of Nigerian families already forced to make painful choices between food, transportation, education and healthcare.

These are the people whose voices must be heard in every discussion about oil prices and government revenue.

HIGHER OIL REVENUE MUST BENEFIT THE PEOPLE

If Nigeria earns substantially more from the current oil-price environment, we must ask a fundamental question: How will that additional revenue improve the lives of ordinary Nigerians?

It cannot be enough to simply announce increased government revenue. Nigerians must see, feel and benefit from the economic gains.

I therefore humbly appeal to the Federal Government to consider establishing a transparent National Economic Impact and Poverty Protection Framework for the duration of the international energy crisis.

Any exceptional revenue arising from the oil-price shock should be deliberately channelled into measures that protect vulnerable citizens while strengthening the productive economy.

Such measures should include:

Food Security

The government should expand agricultural production, irrigation, storage, food processing and rural infrastructure to increase domestic food supply and reduce vulnerability to external shocks.

Transportation

Measures should be introduced to reduce the transportation burden on workers, students, farmers and businesses.

SME Support

Targeted financing and energy-cost support should be provided for small and medium-sized businesses.

There are many serious entrepreneurs who are struggling to obtain adequate funding to sustain and expand their legitimate businesses. For many, working capital has been severely depleted by high electricity costs, bank charges and other operating expenses.

Youth Employment

Government should expand practical skills training, entrepreneurship, technology and vocational programmes, alongside other sustainable empowerment initiatives that can lead to meaningful employment.

Local Manufacturing

Nigerian producers should receive stronger incentives to manufacture locally and reduce excessive dependence on imports.

Social Protection

Targeted assistance for the poorest and most vulnerable households should be strengthened to cushion the effects of rising living costs.

Energy Security

Nigeria should accelerate domestic refining, alternative energy development and other measures that can reduce the country’s vulnerability to international energy shocks.

NIGERIA MUST TURN THE CRISIS INTO AN OPPORTUNITY

Every crisis presents a choice.

We can simply complain about its consequences, or we can use the situation to build a stronger and more resilient Nigeria.

Nigeria has enormous opportunities. We have land, oil and gas, a huge youthful population, entrepreneurs, farmers, engineers, professionals, natural resources, growing refining capacity and enormous untapped productive potential.

The question is whether we will use these assets wisely.

The present crisis should strengthen our determination to move from an economy that depends heavily on the export of crude oil to one that produces, processes, manufactures and creates jobs.

THE DANGEROUS PARADOX OF OIL

Nigeria must learn an important lesson: a country can be an oil producer and still have poor people.

A country can earn more dollars and still have families struggling to buy food. A country can increase government revenue and still experience rising inequality.

Oil wealth alone does not eradicate poverty. How that wealth is managed determines whether it becomes an instrument of development or another source of inequality.

This is why accountability and transparency are essential.

MY APPEAL TO THE FEDERAL GOVERNMENT

I humbly call on the Federal Government to immediately monitor the effects of the Middle East crisis and its multiplier effects on Nigerians.

The Nigerian people deserve regular, clear and transparent information about the impact of the crisis on the economy.

If exceptional oil revenues are realised, Nigerians also deserve to know how such revenues are being used.

Regular communication with citizens will help build confidence and give greater credibility to the government’s response.

MY APPEAL TO STATE GOVERNMENTS

State governments must not leave everything to Abuja.

Every state should begin asking: What can we produce locally to reduce our dependence on external shocks?

States should invest in agriculture, food processing, local manufacturing, vocational education, public transportation, youth employment, cooperatives, renewable energy and small businesses.

Every local economy that becomes more productive makes Nigeria more resilient.

MY APPEAL TO THE PRIVATE SECTOR

This is also a moment for Nigerian entrepreneurs.

Instead of asking only, “How will the crisis affect my business?” we should also ask, “What new problem has the crisis created that my business can solve?”

Nigeria needs businesses in food production, storage, logistics, renewable energy, transportation, recycling, manufacturing, agricultural technology, digital services and skills development.

These are not merely commercial opportunities. They are also essential components of national economic resilience.

WE MUST ALSO LOOK BEYOND THE WAR

There are encouraging indications that diplomacy has not completely disappeared.

At the BRICS summit in New Delhi, member countries expressed concern about the Middle East conflict and called for restraint and the protection of global trade and energy flows. China has also called for a greater peacemaking role for BRICS.

Iran is also expected to participate in an Oman-hosted regional meeting concerning the Strait of Hormuz.

However, any diplomatic opening remains fragile. Iran has indicated that reopening the Strait is linked to conditions it wants the United States to accept.

The international community must therefore intensify diplomatic efforts. The world does not need a wider war.

Nigeria, Africa and the developing world certainly cannot afford one.

THIS IS WHY ECONOMIC INDEPENDENCE MATTERS

The present crisis provides another powerful lesson for Nigeria: political independence alone is not enough. We also need economic independence.

Economic independence means producing more of what we consume, creating jobs for our young people, growing our food, processing our raw materials, manufacturing locally, developing our skills and building resilient communities.

It also means protecting vulnerable citizens and ensuring that external shocks do not automatically become domestic disasters.

This is the Nigeria we must build.

MY FEAR — BUT ALSO MY HOPE

I am afraid that if the war continues to disrupt global energy and shipping routes, the poorest Nigerians could become the greatest casualties of a conflict in which they have no part.

But I also have hope.

I believe Nigeria has the capacity to respond intelligently and protect its people.

As we approach another period of intense political activity and electioneering, we must remember that we cannot meaningfully protect votes if the people and their families are not adequately protected.

Rather than spending excessively on electioneering while citizens struggle with basic needs, government must prioritise measures that improve people’s welfare. The more we invest in the people and strengthen their livelihoods, the less pressure there will be to spend excessively during elections.

We can increase food production. We can strengthen local industries. We can create jobs. We can support small businesses. We can use increased oil revenues wisely.

We can reduce inequality. We can turn adversity into opportunity.

But we must act now.

Not when prices have already become unbearable. Not when businesses have already closed. Not when millions more Nigerians have fallen into poverty.

A FINAL APPEAL

As President of the Legacy Foundation for Poverty and Inequality Eradication, I appeal to the Federal Government, National Assembly, state governments, private sector, civil society, development partners and Nigerians everywhere:

LET THE IRAN–US WAR NOT BECOME ANOTHER NIGERIAN POVERTY CRISIS.

Let us prepare.

Let us protect the vulnerable.

Let us use additional oil revenues responsibly.

Let us invest in production.

Let us create jobs.

Let us strengthen food security.

Let us support entrepreneurs.

Let us reduce inequality.

Let us build resilience.

Above all, let us remember that the ultimate purpose of an economy is not merely to generate revenue for government. It is to enable human beings to live with security, opportunity, prosperity and dignity.

That is the Nigeria we must build.

That is the Nigeria we must protect.

And that is the Nigeria for which the Legacy Foundation for Poverty and Inequality Eradication will continue to advocate.

Omo-Bashorun Bayo Lawal
President
Legacy Foundation for Poverty and Inequality Eradication

“Uplifting Lives, Restoring Dignity”

September 12, 2026