The Federal Government says it is closely monitoring escalating tensions in the Middle East involving the United States, Israel and Iran in a bid to safeguard Nigeria’s economic stability.
The assurance 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 assessed the potential implications of the crisis for the Nigerian economy.
In a statement released by the Federal Ministry of Finance, the government noted that rising geopolitical uncertainty, especially fears of disruptions to critical global energy supply routes such as the Strait of Hormuz, has already caused volatility in global crude oil prices and financial markets.
According to the EMT, the crisis could impact Nigeria through rising energy costs, shifts in international capital flows towards safer investment destinations, and increased global logistics expenses.
The team added that authorities are closely tracking key economic indicators, including crude oil prices, exchange rate movements and capital flows, to enable timely policy responses.
Despite the uncertainty, the government said Nigeria is entering this period with improving economic fundamentals. It highlighted that the country recorded a real Gross Domestic Product growth of 4.07 per cent in the fourth quarter of 2025.
The government reassured Nigerians that it remains vigilant and will take necessary steps to protect the economy and sustain growth amid the evolving global situation.
Meanwhile, the Chairperson of the Nigerians in Diaspora Commission, Abike Dabiri-Erewa, has said that the repatriation of Nigerians stranded in parts of the Middle East will begin once regional airspace reopens.
Responding to concerns from a Nigerian stranded in Qatar, Dabiri-Erewa explained that evacuation flights cannot commence yet because the airspace in the region remains unsafe for travel.
She added that a flight from the United Arab Emirates had arrived in Lagos shortly before another round of strikes led to the closure of the airspace.
According to her, once the skies reopen, a multi-agency Federal Government team is on standby to begin evacuation and assist Nigerians in affected countries.
