Tinubu Warns of Inflation Rise Amid Middle East Crisis

President Bola Tinubu has issued a warning regarding the potential economic impact of the ongoing Middle East crisis, stating that it could reignite inflationary pressures and severely erode the purchasing power of Nigerians. Speaking during the Eid el-Fitr gathering in Lagos, where he was accompanied by Vice President Kashim Shettima and 23 state governors, Tinubu highlighted the need for collective action to combat crime and emphasized that the safety of citizens remains a top priority.

He noted that the crisis would likely lead to a spike in inflation, affecting vulnerable populations. Tinubu urged governors to translate policy ideas into actions that directly improve citizens' lives and to support federal efforts in tackling crime.

He also mentioned recent engagements with the United Kingdom, focusing on security and modern interventions, and discussed collaborations with French President Emmanuel Macron and U.S. support. The statement was issued on a Sunday and signed by Special Adviser Bayo Onanuga.