The All Progressives Congress (APC) in Lagos State has expressed concern over the escalating crisis in the Middle East, warning that the situation could pose fresh challenges to Nigeria’s economic recovery.
In a statement issued by the Lagos APC spokesperson, Seye Oladejo, the party noted that although the conflict is external to Nigeria, its ripple effects could negatively impact the country’s recent macroeconomic gains.
According to the party, developments in the Middle East — a region central to global energy supply and international trade — have introduced new uncertainties into global markets, affecting commodity prices, investment flows, and overall financial stability.
The Lagos APC observed that Nigeria has only recently begun to show signs of macroeconomic stabilisation, adding that the unfolding crisis could represent a significant external shock capable of slowing the progress recorded in recent months.
The statement further highlighted that disruptions in global supply chains, volatility in energy markets, and rising international trade costs could place additional pressure on inflation, exchange rate stability, and fiscal planning.
While fluctuations in global crude oil prices may temporarily boost revenues for oil-producing countries like Nigeria, the party cautioned that such gains are often offset by higher import costs, global inflationary pressures, and increased uncertainty for investors.
The Lagos APC therefore stressed the need for prudent economic management and proactive policy responses to cushion the effects of external shocks. It urged sustained efforts toward economic diversification, increased domestic production, fiscal discipline, and structural reforms to strengthen the country’s resilience against global crises.
The party also commended the Federal Government for ongoing reforms aimed at stabilising the economy and restoring investor confidence, while acknowledging the resilience and optimism of Nigerians in supporting the nation’s recovery process.
It called on citizens, the private sector, and other stakeholders to cooperate with government policies designed to mitigate the impact of the crisis and sustain economic progress.
The Lagos APC further appealed to the international community to intensify diplomatic efforts to de-escalate tensions in the Middle East, noting that global peace and stability remain critical for sustained economic growth.
Reaffirming its support for policies that safeguard Nigeria’s economic interests, the party expressed confidence that with sound leadership, unity, and strategic economic management, the country will overcome the challenges posed by the current global developments.
