Nigeria reviews oil, market exposure amid rising Middle East tension

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 assess how the conflict involving the United States, Israel, and Iran could affect oil prices, capital flows and global 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 fertilizer.

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 percent 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.