The Federal Government of Nigeria is closely monitoring escalating tensions in the Middle East involving the United States, Israel, and Iran, and is taking steps to safeguard the country’s economic stability.
The Economic Management Team (EMT), chaired by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, convened a meeting to assess potential impacts on Nigeria’s economy. The Minister also led a Naira-for-Crude policy coordination meeting to review developments in global energy markets and their domestic implications.
The government said the crisis is creating uncertainty in global markets, particularly affecting crude oil prices and financial flows.
It identified three immediate channels through which Nigeria could be impacted: rising domestic fuel, diesel, cooking gas, and fertiliser prices; shifts in capital flows affecting financial markets; and higher freight and logistics costs from disruptions to major shipping routes.
Despite these challenges, the government stressed that Nigeria enters the period of uncertainty from a position of strengthening fundamentals, noting that real GDP grew by 4.07 percent in the fourth quarter of 2025, one of the strongest quarterly performances in more than a decade.
The EMT said it is closely monitoring macroeconomic indicators, including crude oil prices, exchange rates, capital flows, and the fiscal outlook, while keeping policy options under review to shield households and businesses from external shocks.
The Federal Government assured the public that it remains proactive, committed to maintaining macroeconomic stability, and prepared to take all necessary steps to sustain growth amid global volatility.
