The Lagos State chapter of the All Progressives Congress has warned that the ongoing crisis in the Middle East could undermine Nigeria’s economic recovery and threaten recent macroeconomic gains.
In a statement on Wednesday, the party’s spokesman, Seye Oladejo, said instability in the region could create fresh uncertainty in global markets because of the Middle East’s critical role in global energy supply and international trade.
According to him, disruptions in global supply chains, volatility in energy markets and rising costs in international trade could place additional pressure on inflation, exchange rate stability and fiscal planning in Nigeria.
“The ongoing conflict unfortunately poses a negative impact on Nigeria’s economic recovery efforts,” Oladejo said, adding that the crisis represents a significant external shock for a country that has only recently begun recording signs of macroeconomic stabilisation.
The party acknowledged that rising global crude oil prices could present short term revenue opportunities for oil producing countries like Nigeria. However, it warned that such gains could be offset by higher import costs, global inflation and growing investor uncertainty.
The Lagos APC called for cautious economic management and proactive policies to cushion the potential impact of the crisis. It urged stronger efforts toward economic diversification, improved domestic production, fiscal discipline and structural reforms.
The party also commended the Federal Government for ongoing economic reforms aimed at stabilising the economy, restoring investor confidence and improving fiscal sustainability.
Oladejo further called on the international community to intensify diplomatic efforts to de escalate tensions in the Middle East, stressing that global peace and stability remain essential for sustainable economic growth.
