Iran claims military stronger after 9 months of US-Israel war, keeps Hormuz closed
Iran's army spokesman Mohammad Akraminia declared Saturday that Iranian forces are "stronger" and more motivated than when the US and Israel launched massive strikes in February 2026. After nine months of deadlocked conflict, Tehran says it controls the Strait of Hormuz — which carries one-fifth of global oil — and will keep it closed until Washington meets its demands. The Supreme Leader ordered responses "immediate, effective, and without geographical limitations."
This week President Trump confirmed new strikes on Iran. Reports say missiles hit Qeshm Island in the strait; Iranian air defenses claim to have destroyed a US drone there. Details on damage remain unconfirmed.
For Nigeria, the Hormuz closure directly affects oil revenue and domestic fuel prices. As a major crude exporter, Nigeria benefits from higher global prices but faces volatility risks. The conflict's escalation could disrupt shipping routes and insurance costs for Nigerian-bound vessels.
Global oil markets have priced in some disruption, but a wider regional war would spike prices unpredictably. Nigeria's 2026 budget assumptions on oil benchmarks may need revision if Hormuz stays closed through Q1 2027.
With Hormuz shut and oil markets volatile, how should Nigeria's energy policy adapt to protect revenue while shielding citizens from pump price shocks?