By Ayomide Otitoju
The Federal Government of Nigeria says it is closely monitoring escalating geopolitical tensions in the Middle East involving the United States, Israel and Iran, amid concerns about potential effects on Nigeria’s economic stability.
The development followed a meeting of the Economic Management Team (EMT) chaired by Wale Edun, Minister of Finance and Coordinating Minister of the Economy, to evaluate possible implications of the crisis for the Nigerian economy.
In a statement issued Wednesday by the Federal Ministry of Finance, the government noted that rising global uncertainty—particularly fears of disruptions to key energy supply routes such as the Strait of Hormuz—has already triggered volatility in crude oil prices and financial markets.
According to the EMT, the situation could affect Nigeria through higher energy prices, shifts in global capital flows toward safer assets, and increased logistics and shipping costs.
The team said it is closely tracking key economic indicators, including crude oil prices, exchange rate movements, and international capital flows.
Despite the risks, the government noted that Nigeria is entering the uncertain global environment with improving economic fundamentals. It cited real Gross Domestic Product growth of 4.07 percent in the fourth quarter of 2025 as evidence of strengthening economic performance.
Authorities assured Nigerians that the government remains vigilant and ready to take necessary measures to protect the economy and sustain growth.
Meanwhile, the government also indicated that plans are underway to evacuate Nigerians stranded in parts of the Middle East once regional airspace reopens.
Chairperson of the Nigerians in Diaspora Commission, Abike Dabiri-Erewa, disclosed this while responding to complaints from a Nigerian reportedly stranded in Qatar.
Dabiri-Erewa explained that repatriation flights cannot commence immediately because airspace in parts of the region remains closed due to security concerns.
She noted that a flight from the United Arab Emirates had managed to arrive in Lagos shortly before another round of strikes led to renewed airspace closures.
According to her, a multi-agency team of the Federal Government is already on standby to begin evacuation operations once it becomes safe for flights to resume. She added that the government’s thoughts remain with Nigerians currently in affected countries.
