Business
IMF Warns Global Energy Shock Could Fuel Inflation Surge
IMF warns global energy shock from Middle East tensions could fuel inflation and slow growth as oil prices surge above $100 per barrel
The International Monetary Fund (IMF) has warned that escalating tensions in the Middle East and the resulting spike in global energy prices could significantly fuel inflation and weaken economic growth worldwide.
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The IMF global energy inflation warning comes as crude oil prices surged above $100 per barrel, driven by disruptions to tanker traffic through the Strait of Hormuz, a key global shipping route for energy supplies.
Benchmark Brent crude and West Texas Intermediate have climbed above $105 per barrel, while Murban crude has exceeded $123, reflecting tightening supply conditions as shipping activity in the region remains heavily disrupted.
IMF spokesperson Julie Kozack said the ongoing conflict has already caused substantial interruptions to seaborne oil and natural gas flows, warning that the situation poses growing risks to global economic stability.
She noted that while no member country has formally requested emergency assistance, the IMF stands ready to intervene if needed, adding that the Fund is actively engaging policymakers and financial institutions to monitor developments closely.
According to Kozack, the economic impact will depend heavily on the duration and intensity of the crisis.
She cited IMF modelling which suggests that a sustained 10 per cent rise in energy prices over one year could increase global inflation by around 0.4 percentage points while reducing output by up to 0.2 per cent.
She further warned that prolonged oil prices above $100 per barrel could have “substantial consequences” for both inflation and global growth trajectories.
The IMF also stressed that central banks must remain alert to the risk of broader price pressures spreading beyond energy markets, particularly if inflation expectations begin to drift.
The IMF global energy inflation warning also highlighted potential vulnerabilities in the Gulf Cooperation Council economies, where growth prospects could weaken if oil and gas exports remain constrained.
The Fund said it is closely monitoring the unfolding situation following the escalation of conflict in late February, when strikes on Iranian targets triggered widespread regional instability and disrupted global energy flows.
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The IMF is expected to incorporate the economic impact of the crisis into its upcoming World Economic Outlook, due for release at the Spring Meetings in April.
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Business
Kola Karim’s Shoreline Group Signs $300 million Deal With Accor to Develop Nigeria’s First National Hotel Platform
Kola Karim’s Shoreline Group has signed a letter of intent with Accor, a world leading hospitality group to establish Nigeria’s first national hotel platform.
The signing took place during the Africa Forward Summit 2026 hosted jointly by Kenya and France in Nairobi.
This ambitious partnership is set to make a significant contribution to the evolving Nigerian hospitality landscape with a substantial investment from Shoreline of $300 million, leveraging Accor’s renowned brand portfolio and expertise.
As gathered the strategic collaboration aims to develop a hotel network across Nigeria, encompassing 10 hotels across eight cities and over 1,200 rooms by 2030.
These properties will span various segments, from midscale to luxury, catering to diverse travelers and contributing significantly to the nation’s tourism growth. The project also includes the establishment of a dedicated hospitality training Academy to nurture local talent and create approximately 1,000 direct jobs.
Mr. Sébastien Bazin, Chairman and CEO of Accor, stated: “We are thrilled to partner with Shoreline Group to unlock the immense potential of Nigeria’s hospitality sector. This partnership is a testament to our belief in Nigeria’s dynamic future.
“By combining Shoreline’s deep understanding of the local market with Accor’s global expertise and diverse brand portfolio, we are poised to create an unparalleled hospitality offering that will set new benchmarks for quality and service.
“Crucially, the establishment of the Accor Academy is integral to this vision, enabling us to deliver immediate talent development for the Shoreline hotel portfolio, demonstrate our long-term commitment to Nigeria through dedicated training facilities, and solidify Accor’s position as the employer and educator of choice in West Africa.”
The Agbaoye of Ibadanland and Chairman of Shoreline Group, Karim, commenting on the development said: “This partnership is central to Shoreline’s strategy of building institutional-quality infrastructure platforms across Africa.
“We anticipate hospitality infrastructure becoming increasingly vital for capital movement and development, particularly in Nigeria where high-quality room supply is underserved. Our choice to partner with Accor highlights our focus on operational excellence and long-term value.
“The hospitality academy is crucial, alongside physical hotels, for developing local talent to sustain international standards. It will support our portfolio and enhance Nigeria’s hospitality workforce.
“This investment aligns with Shoreline’s broader focus on strategic assets in energy, infrastructure, and industrial development. We view hospitality as a natural extension: real infrastructure supporting economic activity, local capability, and national growth.”
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