President Bola Tinubu has warned that rising tensions involving the US, Israel and Iran could drive up inflation and weaken Nigerians’ purchasing power.
Speaking on Sunday while hosting Vice-President Kashim Shettima and governors at his Lagos residence for Eid al-Fitr, Tinubu urged state leaders to introduce measures to cushion the economic impact, particularly on energy and transport costs.
He noted that vulnerable Nigerians would likely feel the effects most, as labour groups may push for additional government support.
The president, who recently returned from a three-day state visit to the UK, said his administration is taking steps to manage both economic and security risks.
During the trip, he held talks with Keir Starmer and was hosted by King Charles III, where discussions focused on strengthening bilateral ties and securing support in key sectors.
Tinubu also highlighted efforts to address insecurity, describing it as a major threat to development. He said his government is expanding international partnerships, including recent engagements with Emmanuel Macron, to secure equipment and technical support for modern security operations.
He assured Nigerians that improving safety remains a priority and that new strategies and technologies will be deployed, particularly in areas affected by violence. He also commended Shettima for visiting Borno following recent attacks, promising stronger protection for residents.
Chairman of the Nigerian Governors Forum and Kwara State governor, AbdulRahman AbdulRazaq, praised the president’s leadership and the outcomes of the UK visit. He said governors remain committed to working with the federal government to address insecurity and advance discussions on state policing through legislative backing.