The Federal Government of Nigeria is closely monitoring escalating geopolitical tensions in the Middle East involving the United States, Israel, and Iran, reaffirming its commitment to protecting the country’s economic stability.
The Economic Management Team (EMT), chaired by the Honourable Minister of Finance and Coordinating Minister of the Economy, Wale Edun, convened a meeting to assess the potential impact on Nigeria’s economy.
Minister Edun also led a Naira-for-Crude policy coordination session to review global energy market developments and their domestic implications.
“The global situation remains fluid, particularly around critical energy supply routes such as the Strait of Hormuz, which directly affects oil prices and financial markets, Our priority is to ensure that Nigeria remains resilient to external shocks while protecting welfare of citizens and businesses,” the Minister Edun said
The government highlighted three immediate channels through which the crisis could affect Nigeria.
Crude Oil and Gas Prices Rising global energy prices are driving increases in domestic fuel, diesel, cooking gas, and fertiliser costs.
Capital Flows and Financial Markets Heightened geopolitical risks may trigger shifts to safe-haven assets, potentially affecting investment flows into Nigeria.
Global Logistics and Supply Costs: Disruptions to major shipping routes could increase freight and logistics costs, placing additional pressure on domestic prices.
“The EMT is closely monitoring key macroeconomic indicators including crude oil prices, exchange rates, and capital flows,We are fully prepared to implement measures that will mitigate volatility and shield households and businesses from undue impact.” Minister Edun added.
Despite global uncertainties, Nigeria enters this period from a position of relative strength. Real GDP grew by 4.07 percent in Q4 2025 one of the strongest quarterly performances in more than a decade.
“The Federal Government remains vigilant and proactive,” the Ministry of Finance said in a statement. “We will take all necessary steps to preserve Nigeria’s economic stability and sustain its growth trajectory. Recent gains in macroeconomic stabilisation and growth will not be undermined by external developments.”
The EMT continues to coordinate across fiscal, monetary, and energy policy institutions, keeping policy options under review to ensure that Nigeria’s economy remains resilient in the face of global shocks.