Audio By Carbonatix
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.
Latest Stories
-
FIFA World Cup: Iran moves camp from USA to Mexico, amid ongoing conflict
13 minutes -
Tamale police arrest suspect with large quantities of drugs
46 minutes -
BoG pushes for integrated African payment systems to boost trade — Dr Asiama
50 minutes -
Two people shot in encounter with Secret Service near the White House
1 hour -
Red Cross volunteers die from suspected Ebola in DR Congo
2 hours -
US Secret Service investigates reports of shots near White House
2 hours -
ECG injects GH¢3m into power upgrades across 40 Accra communities
2 hours -
‘Owadiah’ makes history: William Opare becomes first Ghanaian to break 45 seconds in 400m
2 hours -
Scottish woman ‘was on a mission’ to find out who her Ghanaian husband was. Then she died
2 hours -
Four Ada SHS students arrested after viral cutlass threat video sparks alarm
2 hours -
Christopher Bonsu Baah win Staff Player of the Year award in debut season with Al Qadsiah
3 hours -
Laryea Kingston’s Uganda beat Ghana 8-7 on penalties to secure U-17 World Cup spot and extend Black Starlets’ absence to nine years
3 hours -
FIFA U17 World Cup playoffs: Uganda beat Black Starlets on penalties to qualify
3 hours -
GN Savings and Loans: Ndoum thanks Mahama after Court of Appeal victory
3 hours -
2026 U17 WWCQ: Goalfest in Accra as Black Maidens hit Liberia for six
3 hours