The closure of the Strait of Hormuz has trapped a fifth of the world’s energy, sending a shockwave across the continent that is felt from the pumps in Lagos to the farms of East Africa.
In Nigeria, the “giant of Africa” is reeling as petrol prices has sky rocketed than a ₦1,000 per litre, with experts warning that a prolonged conflict could double that figure and further devalue the Naira.
The cost of living is climbing rapidly for everyday citizens, as rising diesel prices push transportation and food costs to record highs in markets across Ghana and Kenya.
For the millions of families in South Africa already struggling with inflation, the surge in fuel costs is making the daily loaf of bread an increasingly expensive luxury.
Agriculture, the backbone of many African economies, is under siege as fertilizer prices jump by over 30% due to the disruption of ammonia and urea exports from the Gulf.
Smallholder farmers in Ethiopia and Tanzania are being forced to cut back on planting, raising the terrifying prospect of lower crop yields and heightened food insecurity later this year.
In Sudan and Somalia, where food systems are already fragile, the loss of affordable imports from the Middle East is pushing local communities toward a “cascading crisis” of hunger.
Logistics across the continent are slowing down as major shipping lines reroute around the Cape of Good Hope, adding weeks to delivery times for essential medicines and consumer goods.
North African nations like Egypt are being forced into austerity, with government-mandated early closures for shops and cafes to preserve dwindling fuel supplies.
While oil exporters like Algeria and Angola may see a short-term windfall from high prices, analysts warn these gains are often swallowed up by the rising cost of imported refined fuel.
The African Development Bank has warned that the war is shaving points off the continent’s projected growth, as debt-service burdens mount alongside the rising cost of energy.
Ultimately, while the fighting remains in the Middle East, the “quiet” casualties of the conflict are the millions of Africans facing a future of tighter margins and emptier plates.
Source: MSN
