Thursday, June 4, 2026

The Sun Nigeria

Iran conflict: SEREC raises alarm over risks to African maritime trade

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By Goli Innocent

The Sea Empowerment and Research Center (SEREC) has warned that rising tensions between the Israel, the United States and Iran could pose serious economic and security risks for maritime nations across Africa.

In a statement issued on Friday, the research body said the growing confrontation between the two countries could disrupt global shipping routes and trigger economic shocks for import-dependent economies within the African Union.

The communiqué, signed by SEREC’s Head of Research, Eugene Nweke, warned that sustained hostilities could push global oil prices higher while also increasing freight costs and insurance premiums for vessels operating in sensitive maritime corridors.

According to the centre, such developments could translate into rising fuel and food prices, currency pressures and wider inflation across African economies already struggling with global supply disruptions.

Nweke also cautioned that maritime security could face renewed threats if the conflict drags on, noting that key shipping routes may become increasingly volatile. He said African countries may have to strengthen naval cooperation and surveillance, particularly around the Gulf of Guinea, to safeguard commercial trade.

SEREC advised governments to use any potential oil windfall wisely by investing in infrastructure and economic stabilisation rather than recurrent spending.

It also recommended guaranteeing crude supply to domestic refineries, expanding strategic petroleum reserves and deepening regional trade links to reduce dependence on unstable external shipping routes.

“The US–Iran confrontation is more than a geopolitical conflict it is a structural stress test for global trade and maritime systems,” Nweke said, stressing that economic resilience would depend on disciplined fiscal management and stronger maritime cooperation across the region.