…Leverages 4.07% GDP Growth to Shield Economy from Middle East Fallout

Nigeria’s government is monitoring escalating ​tensions in the Middle East as ‌it assesses potential risks to the country’s economic stability, the finance ministry said on ​Wednesday.

Finance Minister Wale Edun convened the ​Economic Management Team to review how ⁠the U.S.-Israeli conflict with Iran could ​affect oil prices, capital flows and logistics ​costs.

The ministry said volatility in global energy markets, including possible disruptions around the Strait of Hormuz, ​is already pushing up crude prices ​and could raise domestic costs for fuel, diesel, ‌cooking ⁠gas and fertiliser.

It warned that sustained instability may add pressure on inflation and living costs. Officials are tracking crude price ​movements, exchange ​rate ⁠pressures, capital flows, fiscal risks and reserve levels.

Nigeria enters the ​period with strengthening fundamentals, the ministry ​said, ⁠citing 4.07% GDP growth in the fourth quarter of 2025.

The government said it ⁠will ​keep policies under review ​to shield households and businesses and maintain investor confidence.

REUTERS