Nigeria may adjust economic policies as Middle East crisis worsens
The Federal Government has announced its readiness to modify economic policies in response to escalating geopolitical tensions in the Middle East. Officials warn that the crisis could impact Nigeria through rising energy prices, shifting capital flows, and disruptions in global supply chains. Wale Edun, the Minister of Finance, is leading efforts to assess and manage these risks. The government says it will remain vigilant and take necessary steps to protect Nigeria’s economic stability.
What we know
- The Federal Government is closely monitoring the Middle East crisis involving the United States, Israel, and Iran, warning of possible shocks to Nigeria’s economy.
- Wale Edun chaired recent meetings to evaluate the impact on energy prices, financial markets, and supply chains.
- Officials identified rising global energy prices, reduced capital inflows, and higher logistics costs as key risks.
- The government cited real GDP growth of 4.07 per cent in the fourth quarter of 2025, attributing it to ongoing reforms.
- Businesses and economists warn that higher fuel prices could increase operational costs and inflation in Nigeria.
