Tinubu warns governors, middle east crisis may fuel inflation
President Bola Tinubu has cautioned state governors about the potential economic fallout from the ongoing tensions in the Middle East, warning that the crisis could drive up inflation and further strain Nigerians’ purchasing power.
The president gave the warning on Sunday while hosting Vice-President Kashim Shettima and 23 governors at his Lagos residence during the Eid al-Fitr celebration. He urged state leaders to introduce additional measures and incentives to shield citizens—especially the most vulnerable—from the anticipated rise in energy and transportation costs.
Tinubu noted that the escalating tensions involving the United States, Israel, and Iran are likely to have global economic repercussions, including higher inflation in Nigeria. He added that labour unions may intensify demands for government support as the effects of the crisis begin to bite.
The president and First Lady Oluremi Tinubu had recently returned from a three-day state visit to the United Kingdom, where they were hosted by King Charles III and Queen Camilla. During the trip, Tinubu also held talks with British Prime Minister Keir Starmer, resulting in key bilateral agreements between both countries.
According to a statement issued by presidential adviser Bayo Onanuga, Tinubu further called on governors to remain focused on implementing policies that directly improve citizens’ livelihoods. He also emphasised the need for continued collaboration with the federal government in addressing insecurity, assuring Nigerians that efforts to safeguard lives and property remain a top priority.
The president and First Lady Oluremi Tinubu had recently returned from a three-day state visit to the United Kingdom, where they were hosted by King Charles III and Queen Camilla. During the trip, Tinubu also held talks with British Prime Minister Keir Starmer, resulting in key bilateral agreements between both countries.
According to a statement issued by presidential adviser Bayo Onanuga, Tinubu further called on governors to remain focused on implementing policies that directly improve citizens’ livelihoods. He also emphasised the need for continued collaboration with the federal government in addressing insecurity, assuring Nigerians that efforts to safeguard lives and property remain a top priority.
