We are in such a situation now. Fact number one: the world is headed for a prolonged war in the Ukraine / Russia crisis, and now the Israel/ Hamas conflict has ensued. After nearly 18 months of Russia-Ukraine gruesome warfare and its adverse impact on living standards, no one can wish for another row of any dimension. Fact number 2: the global economy will be affected if this conflict continues in its current trajectory and may get complicated if the sphere of war expands to Iran. Fact number 3: the Nigerian economy would be significantly negatively impacted if we do not take steps to hedge our economic projections and plans. The latter is the focus of our discourse for today.
The ramifications of these conflicts are too huge to contemplate. The sensitive nature of the Israel-Palestine brouhaha touches the emotional nerves of the world, polarizing the world into two dominant frames: supporters of Israel versus supporters of Palestine. The baggage behind this support is generational and more heuristic than logical. It is tainted with elements of religious dichotomy.
