Post by YUSUF ISSA (@yusuf_temitope)

JUST IN: The Federal Government has expressed deep concern over the escalating hostilities between the Houthis in Yemen and the Kingdom of Saudi Arabia, warning that any disruption to navigation in the Red Sea could severely affect global oil supplies, maritime trade and the world economy.

So, you wonder aside the price of crude being determined globally by market cap.

Back home here, we explore these oil in Nigeria and we also have a private and modular refineries to supply the Nigerian market. How should the feud between the Houthis and Saudi disrupt the supply of crude to Dangote and other modular refineries except the higher prices in the global market that will have an effect on it.

Someone should make me understand how this govt reason at times when you allow certain individuals to foster on exporting crude more instead of supplying the local market to make life easier for the citizens.

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