**Oil Prices Soar above N150 per Litre as US-Iran Tensions Escalate** The recent decision by the United States to take military action against Iran has led to a surge in global oil prices, with a barrel of crude oil selling above $100. This development has significant implications for Nigeria, where oil is the mainstay of the economy. However, former US President Donald Trump has come out in defence of the decision, claiming that the short-term costs are a "small price to pay" for the long-term benefits of peace and security. In a social media post, Trump argued that the temporary increase in oil prices will be offset by the permanent removal of the Iranian nuclear threat. While Trump's assertion may hold water from a geopolitical perspective, it is unlikely to provide much comfort to Nigerian motorists and businesses that rely heavily on oil imports. The recent price surge has already led to a significant increase in the cost of living, with petrol prices expected to hit N150 per litre in the coming weeks. The implications of this development are far-reaching, with the potential to slow down economic growth, increase inflation, and exacerbate poverty in Nigeria. The country's economy is heavily dependent on oil exports, and any significant increase in global oil prices can have a devastating impact on government revenue and the overall economy. It is worth noting that Nigeria has been working to diversify its economy and reduce its reliance on oil exports. However, the process has been slow, and the country's economic planners have been left scrambling to respond to the latest crisis. As the situation continues to unfold, it remains to be seen whether Trump's gamble will pay off in the long run. For now, however, the consequences of the US-Iran conflict are being felt across the globe, including in Nigeria, where the cost of living continues to rise.