By Danjuma Amodu | February 11, 2026
The Federal Government of Nigeria is closely monitoring the escalating geopolitical tensions in the Middle East involving the United States, Israel, and Iran, with a focus on safeguarding the country’s economic stability.
The Economic Management Team (EMT), led by the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, has convened a meeting to assess the potential impact on Nigeria’s economy.
This was disclosed in a statement signed by the Assistant Director of Information and Public Relations, Ministry of Finance, Mrs. Uloma Amadi, via the verified X (formerly Twitter) handle of the Ministry.
Edun stated that Nigeria is monitoring the situation closely and may adjust policies to protect Nigerians from the impact of external shocks. He added that careful policy calibration will guide the government’s response to ensure recent progress in macroeconomic stability is not undermined.
The EMT has identified three key channels through which the crisis could affect Nigeria’s economy: volatility in crude oil and gas prices, capital flows and financial markets, and global logistics and supply costs. The government is particularly concerned about the potential increase in domestic prices of fuel, diesel, cooking gas, and fertiliser due to global energy market volatility.
Nigeria is entering this period of global uncertainty from a position of strengthening fundamentals, with a real GDP growth of 4.07 percent in Q4 2025. The EMT is maintaining close coordination across fiscal, monetary, and energy policy institutions to mitigate volatility and shield households and businesses from external shocks.
The government assures the public that it remains vigilant and proactive and will take all necessary steps to preserve Nigeria’s economic stability and sustain its growth trajectory.
Observers note that the Middle East crisis is expected to have a mixed impact on Nigeria’s economy. Higher oil prices could boost Nigeria’s foreign exchange earnings and fiscal revenues, potentially strengthening the naira and improving external reserves.
However, the inflationary consequences of rising fuel and logistics costs may offset these gains domestically.
