Nigeria’s Election Heightens Oil Worries

The balloting that kicks off in Nigeria Saturday could prove to be a historic event: If the election of a new government goes smoothly, the transition will mark the first time one civilian government in Africa’s most-populous nation passes power to another.

But sporadic violence already has marred the campaign season. Unresolved legal controversies surrounding two candidates could spawn prolonged court battles and possibly postpone voting day.


Amid the chaos, some observers are predicting a messy outcome that could result in challenges to the vote or widespread disenchantment with its outcome. That could have broad repercussions well beyond Nigeria, which in recent years has emerged as one of the world’s most important energy suppliers.

On a good day, Nigeria can pump some 2.5 million barrels of oil a day, or about 3% of global consumption. Most of its output is exported, making it the fifth-largest foreign supplier of crude to the U.S., behind Canada, Mexico, Saudi Arabia and Venezuela. Nigeria’s blend of oil is especially prized by American refineries because of its low sulfur content and its closer proximity to U.S. shores than crude from the Middle East.

Wall Street Journal