Government warns tensions involving the US, Israel, and Iran could disrupt global energy markets as authorities track oil prices, exchange rates, and capital flows…..
The Federal Government says it is closely monitoring escalating geopolitical tensions in the Middle East involving the United States, Israel, and Iran, as part of efforts to protect Nigeria’s economy from potential global shocks.
The development followed a meeting of the Economic Management Team (EMT), chaired by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, where officials reviewed possible economic implications for the country.
In a statement issued on Wednesday by the Finance Ministry, the government acknowledged that the growing uncertainty in the region has already begun to influence global markets.
Officials noted that concerns over possible disruptions to critical energy supply routes particularly the Strait of Hormuz have triggered volatility in crude oil prices and financial markets worldwide.
According to the EMT, the crisis could affect Nigeria through several channels, including rising energy prices, changes in international investment flows, and increasing global logistics costs.
The team explained that investors often move capital toward safer assets during periods of geopolitical instability, a trend that can influence emerging markets such as Nigeria.
To stay ahead of potential impacts, the government said it is actively monitoring key economic indicators, including crude oil prices, exchange rate movements, and the direction of global capital flows.
Despite the growing uncertainty, officials maintained that Nigeria is entering this challenging period with improving economic fundamentals.
The government highlighted that the country recorded real GDP growth of 4.07 percent in the fourth quarter of 2025, describing it as a sign that the economy is gradually strengthening.
Authorities assured Nigerians that the government remains vigilant and prepared to take the necessary steps to protect economic stability and sustain growth if global conditions worsen.
Meanwhile, concerns are also mounting over the safety of Nigerians currently living in parts of the Middle East.
The Federal Government earlier confirmed that plans are underway to evacuate Nigerians stranded in affected areas once regional airspace becomes safe for travel.
Chairperson of the Nigerians in Diaspora Commission, Abike Dabiri-Erewa, disclosed that evacuation flights cannot commence yet because the airspace in parts of the region remains closed due to ongoing security concerns.
Dabiri-Erewa made the clarification while responding to complaints from a Nigerian citizen stranded in Doha, Qatar, who had raised concerns online.
According to her, the current security situation has made it unsafe for aircraft to operate in certain parts of the region.
“The skies are currently unsafe to fly,” she said, noting that a flight from the United Arab Emirates had only recently managed to land in Lagos before another round of hostilities led to renewed airspace restrictions.
She added that once the airspace reopens, a multi-agency Federal Government team responsible for crisis response and evacuation is ready to begin repatriation efforts.
“Our prayers are with you and all Nigerians in affected countries,” she said, assuring those stranded that authorities are closely following developments and will act as soon as conditions allow safe travel.
The government reiterated that while the international situation remains uncertain, it is continuing to assess developments carefully to ensure Nigeria’s economy and citizens are protected from the fallout of the crisis.
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