**Oil Price Volatility: What it Means for Nigeria's Growth Projections** In the past week, global oil prices have skyrocketed due to escalating tensions between Iran, the United States, and Israel. This development is sending shockwaves across the globe, including Nigeria's economy. Our nation's reliance on crude oil exports makes us vulnerable to fluctuations in the global oil market. Nigeria's economy is heavily reliant on oil revenue, which accounts for over 85% of our export earnings and nearly half of government revenue. When global oil prices rise, our economy feels the pinch. The current oil price surge has seen Brent crude selling at $72.82, WTI at $67.02, and Bonny Light trading at $78.62. This spike in oil prices is a worrying trend for Nigeria's economic growth projections. In response to the crisis, OPEC+ is considering a significant increase in oil output, which could see a hike of up to 548,000 barrels per day in April. This move aims to mitigate the impact of supply disruptions on the global market. However, Nigeria's economy stands to gain little from this development, given its heavy dependence on imported refined products. To mitigate the effects of oil price volatility on the economy, the Center for the Promotion of Private Enterprise (CPPE) has called on the federal government to take strategic steps to protect the economy. These measures include strengthening oil production capacity, building fiscal buffers, accelerating refining capacity, and promoting economic diversification. Economic experts warn that the Iran-U.S.-Israel conflict poses a double-edged shock to Nigeria's economy. The immediate risk is inflation transmission, which could lead to energy-driven inflation shocks. The CPPE's CEO, Dr. Muda Yusuf, emphasizes the need for targeted social protection measures to cushion vulnerable households against these shocks. The stakes are high, and Nigeria must act quickly to safeguard its economic growth projections. In conclusion, Nigeria's economy is at a critical juncture. The ongoing global oil price volatility poses significant risks to our economic growth projections. To mitigate these risks, the federal government must act swiftly to implement key economic reforms and diversify the economy to reduce our reliance on oil exports.