A Note on the Spillover of Geopolitical Risks in Nigeria Into Global Energy Markets

This study investigates whether domestic geopolitical risks in Nigeria extend into global energy-related uncertainties. To fulfil this objective, it employs time-varying Granger causality tests covering the period from January 2012 to October 2022. Observable spillovers are identified during significant events such as the EndSARS protests, herdsmen attacks, and the kidnapping of Chibok schoolgirls. These findings illustrate how Nigeria’s geopolitical turmoil impacts not only the country’s oil production and local economy but also the global energy markets. The results indicate a feedback loop where Nigeria’s geopolitical challenges amplify uncertainties around the world’s energy supply, which can further compromise Nigeria’s internal security.