Lagos APC Warns Middle East Crisis Could Undermine Nigeria’s Economic Recovery

Lagos APC Warns Middle East Crisis Could Undermine Nigeria’s Economic Recovery

The Lagos State chapter of the All Progressives Congress (APC) has raised concerns that the escalating crisis in the Middle East could negatively affect Nigeria’s fragile economic recovery, warning that the conflict may reverse some of the recent macroeconomic gains recorded by the country.

The Lagos State chapter of the All Progressives Congress (APC) has expressed concern over the evolving crisis in the Middle East and its potential implications for Nigeria’s economic stability.

In a statement issued by the Lagos APC Spokesman, Seye Oladejo, the party said the conflict, though external to Nigeria, could create economic shocks capable of slowing down the nation’s ongoing recovery process.

According to the party, instability in the region — a key hub for global energy supply and international trade — is already creating fresh uncertainties in global markets, affecting commodity prices, investment flows and overall financial stability.

The APC noted that Nigeria had only recently begun to record encouraging signs of macroeconomic stabilization, warning 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 present short-term revenue opportunities for oil-producing countries such as Nigeria, such gains are often offset by higher import costs, global inflationary pressures and increased uncertainty for investors,” the statement said.

The party stressed that the current global situation highlights the need for careful economic management and proactive policy responses to cushion the impact of external shocks.

It therefore urged the Federal Government to sustain efforts aimed at economic diversification, strengthening domestic production, maintaining fiscal discipline and implementing structural reforms to improve Nigeria’s resilience to global economic disruptions.

The Lagos APC also commended the Federal Government for its ongoing economic stabilization measures and reforms designed to restore investor confidence and enhance fiscal sustainability.

The party further called on Nigerians, the private sector and other stakeholders to support government efforts aimed at mitigating the effects of the global crisis.

It also urged the international community to intensify diplomatic engagements to de-escalate tensions in the Middle East, stressing that global peace and stability remain critical for sustainable economic growth and development.

Reaffirming its position, the Lagos APC said it remains committed to supporting policies that protect Nigeria’s economic interests and ensure that global disruptions do not derail the country’s long-term growth trajectory.

The statement concluded that Nigeria has successfully navigated global shocks in the past and can overcome the present challenge through prudent leadership, unity and sound economic management.