FG monitoring Middle East tensions to protect Nigeria’s economy — Minister of Finance Wale Edun

The Federal Government of Nigeria says it is closely monitoring escalating geopolitical tensions in the Middle East involving the United States, Israel and Iran to protect Nigerias economic stability.The development follows a meeting of the Economic Management Team chaired by Wale Edun, the Minister of Finance and Coordinating Minister of the Economy. According to a statement released by the Federal Ministry of Finance, the meeting reviewed potential economic risks linked to the ongoing conflict and its possible implications for Nigeria.The government noted that global uncertainty triggered by the conflict, particularly fears of disruptions to major energy supply routes such as the Strait of Hormuz, has already caused volatility in crude oil prices and global financial markets.The Economic Management Team warned that the crisis could affect Nigeria through several channels, including rising global energy prices, increased logistics costs and shifts in international capital flows toward safer assets. Officials said the government is monitoring key economic indicators such as crude oil prices, exchange rate movements and capital inflows.Despite the uncertainties, the government said Nigerias economic fundamentals are improving, citing real GDP growth of 4.07 percent in the fourth quarter of 2025. Authorities assured citizens that measures would be taken where necessary to protect the economy and maintain growth.Meanwhile, the government also addressed concerns about Nigerians stranded in parts of the Middle East due to the conflict. The chairperson of the Nigerians in Diaspora Commission, Abike Dabiri-Erewa, said evacuation flights would begin once regional airspace becomes safe.Responding to complaints from a Nigerian stranded in Qatar, Dabiri-Erewa explained that repatriation efforts cannot start yet because many airspaces in the region remain closed due to security concerns. And as for repatriation flights, the skies are currently unsafe to fly, she said, noting that a flight from the United Arab Emirates had arrived in Lagos shortly before another strike forced airspace closures.She added that a multi-agency federal government team responsible for crisis response and evacuation is on standby to begin repatriation operations once the airspace reopens.The post FG monitoring Middle East tensions to protect Nigerias economy Minister of Finance Wale Edun appeared first on Linda Ikeji Blog.