A speech in New York could eventually be felt at a filling station in Abuja.
US President Donald Trump is at the United Nations as the Iran conflict continues to shake energy markets.
Oil prices remained above $100 a barrel on Tuesday as traders watched for possible US-Iran talks.
Why Nigeria Should Watch
Nigeria is an oil-producing country, but it is also heavily exposed to movements in global energy prices. Recent increases have already pushed petrol towards ₦1,400 and ₦1,500 in parts of the country.
If the Middle East crisis keeps crude prices elevated, Nigeria faces a complicated situation.
Higher oil prices can increase government revenue. But higher crude prices can also raise the cost of petrol when domestic prices remain linked to international crude economics.
That is why Trump’s diplomacy in New York is not entirely foreign news for Nigerians.
The words spoken at the UN can travel thousands of kilometres. Sometimes they arrive at the petrol station.
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