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Nigeria Might Enjoy Oil Benefits but Fears FX Fallout as US & Israel Attack Iran: Media

Nigeria Might Enjoy Oil Benefits but Fears FX Fallout as US & Israel Attack Iran: Media

Sputnik Africa

Nigeria Might Enjoy Oil Benefits but Fears FX Fallout as US & Israel Attack Iran: Media“Given Nigeria’s relatively shallow capital market and sensitivity to... 02.03.2026, Sputnik Africa

2026-03-02T22:18+0100

2026-03-02T22:18+0100

2026-03-02T22:24+0100

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Nigeria Might Enjoy Oil Benefits but Fears FX Fallout as US & Israel Attack Iran: Media“Given Nigeria’s relatively shallow capital market and sensitivity to foreign portfolio investment, volatility in global financial conditions could offset part of the FX gains from higher oil prices," a local news outlet reported, citing the statement by the Centre for the Promotion of Private Enterprise (CPPE).Middle Eastern geopolitical shocks often drive crude prices up by $5–$15 per barrel within several days, it added.“Nigeria could benefit through higher export receipts, stronger reserves, and increased government allocations," CPPE reported.Crude accounts for more than 85% of Nigeria's export earnings and roughly half of its government revenue.Subscribe to @sputnik_africa Sputnik Africa | X

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