The All Progressives Congress, APC, in Lagos State has expressed concern over the escalating crisis in the Middle East, warning that the conflict could negatively affect Nigeria’s fragile economic recovery.
In a statement issued on Tuesday by the Lagos APC spokesman, Seye Oladejo, the party said developments in the region may pose serious challenges to the country’s economic stability despite recent macroeconomic improvements.
According to the party, although the crisis is occurring outside Nigeria, the global impact of the conflict could disrupt the country’s economic progress.
“The Lagos APC notes that the Middle East conflict, though external to Nigeria, has the potential to negatively affect our economic recovery and may constitute a setback to some of the recent macroeconomic gains,” the statement said.
The party noted that it has been closely monitoring developments in the region and the broader implications for global economic stability.
It explained that instability in the Middle East, a key hub for global energy supply and international trade, has already introduced fresh uncertainties into global markets.
“The instability in a region that plays a central role in global energy supply and international trade has created fresh uncertainties in global markets, affecting commodity prices, investment flows, and overall financial stability,” the statement added.
The Lagos APC warned that for Nigeria, which has only recently begun to record signs of macroeconomic stabilisation, the crisis could represent a significant external shock.
It noted that disruptions to global supply chains, volatility in energy markets and rising international trade costs could further strain inflation levels, exchange rate stability and fiscal planning.
While acknowledging that higher global crude oil prices could temporarily boost revenue for oil-producing nations, the party cautioned that such gains often come with broader economic pressures.
“Although fluctuations in global crude oil prices may present short-term revenue opportunities for oil-producing nations, such gains are often offset by broader economic pressures including higher import costs, global inflationary trends, and increased uncertainty for investors,” it stated.
The Lagos APC therefore called for careful economic management and proactive policy responses to cushion the effects of the crisis.
It stressed that continued efforts toward economic diversification, increased domestic production, fiscal discipline and structural reforms remain essential for strengthening Nigeria’s resilience against external shocks.
The party also commended the administration of Bola Tinubu for its efforts to stabilise the economy and implement reforms aimed at restoring investor confidence.
“We commend the Federal Government for its ongoing efforts to stabilize the economy and implement reforms aimed at restoring investor confidence and improving fiscal sustainability,” the statement said.
The APC further urged the public, private sector and other stakeholders to support government measures designed to mitigate the impact of the unfolding global developments.
“Collective patience, cooperation, and commitment from all Nigerians will be crucial in ensuring that the nation navigates these challenges effectively while sustaining the momentum of economic recovery,” it added.
The party also called on the international community to intensify diplomatic efforts to de-escalate tensions in the Middle East, stressing that global peace remains vital for sustainable economic growth.
“The All Progressives Congress, Lagos State Chapter, remains committed to supporting policies and initiatives that protect Nigeria’s economic interests, strengthen national resilience, and ensure that temporary global disruptions do not derail the nation’s long-term path toward sustainable growth and prosperity,” the statement concluded.
War: Middle East tensions may undermine Nigeria’s economic recovery – Lagos APC