NIGERIA PERSPECTIVE

Vanguard Nigeria and Punch Nigeria widely covered Trump's announcement: the US will guide ships out of the Gulf from Monday. Punch Nigeria provides the full context: the US-Israel war on Iran began February 28, Iran responded by closing the strait, a ceasefire took effect April 8, and since then negotiations are deadlocked.

For Nigeria, an OPEC+ member, Sunday's organization decision to approve a third consecutive production quota hike has direct economic significance. But as Vanguard notes, this 188,000 barrel-per-day June hike 'will remain largely on paper' while Hormuz is blocked.

Nigeria indirectly benefits from the crisis: with the strait closed and Gulf supplies reduced, demand for Nigeria's light crude — which doesn't transit Hormuz — has slightly increased. But global logistics disruptions and higher import costs largely offset this advantage.