Middle East Crisis: Tinubu Warns Of Inflation Hike, Purchasing Power Drop

President Bola Tinubu has pledged to strengthen his administration’s efforts to combat insecurity across Nigeria, emphasising that the safety and well-being of citizens remain a top priority.

He also warned that the escalating Middle East crisis could reignite inflationary pressures and severely erode the purchasing power of Nigerians.

Speaking during an Eid-el-Fitr gathering at his Lagos residence, where he hosted Vice President Kashim Shettima and 23 state governors, Tinubu highlighted the need for collective action against criminality and underscored ongoing international collaborations to bolster the country’s security apparatus.

In a statement issued on Sunday and signed by Special Adviser to the President on Information and Strategy, Bayo Onanuga, Tinubu noted that his recent engagements in the United Kingdom focused on securing modern security interventions.

He said, “One of the major discussions in the United Kingdom was on equipment and support. I can report to you that yesterday, again, I had a lengthy discussion with French President Emmanuel Macron. They are collaborating with us for equipment and support. I am also making frantic efforts to contact other nations.”

President Tinubu and First Lady Oluremi Tinubu returned to Nigeria on Friday after a three-day State Visit to the United Kingdom, where they were hosted by King Charles III and Queen Camilla and met with British Prime Minister Keir Starmer.

Reflecting on global developments, Tinubu cautioned that rising inflation driven by the Middle East crisis could affect Nigerians’ purchasing power.

He said, “We should care more for the vulnerable. I know this Middle East crisis will spike inflation and affect our purchasing power. The labour union and others will be gearing to ask us to support more due to the effect of the Middle East war and crisis.”

The President urged governors to translate their ideas into policies that directly improve citizens’ lives and to support federal efforts in tackling what he described as the “tyranny” of criminals.

He advised state executives to provide incentives to cushion the inflationary impact on energy and transportation.

He also commended Vice President Shettima for visiting Borno State to offer condolences and reassured the people of stronger protection through the use of new technology.

Chairman of the Nigerian Governors Forum and Governor of Kwara State, AbdulRahman AbdulRazaq, congratulated Tinubu on his successful State Visit to the United Kingdom and described it as “bold and significant” for Nigeria’s international relations.

He also confirmed that discussions on state policing were ongoing and that the NGF would present proposals to the National Assembly.

Governors who attended the meeting included Sen. Hope Uzodinma (Imo), Alex Otti (Abia), Umo Eno (Akwa Ibom), Douye Diri (Bayelsa), Hyacinth Alia (Benue), Bassey Otu (Cross River), Sheriff Oborevwori (Delta), Francis Nwifuru (Ebonyi), Monday Okpebholo (Edo), Peter Mbah (Enugu), Mohammed Inuwa Yahaya (Gombe), Umar Namadi (Jigawa), Abba Kabir Yusuf (Kano), Dikko Umaru Radda (Katsina), Ahmed Usman Ododo (Kogi), Babajide Sanwo-Olu (Lagos), Abdullahi Sule (Nasarawa), Caleb Mufwang (Plateau), Siminalayi Fubara (Rivers), Agbu Keffas (Taraba), Mai Mala Buni (Yobe), and Lucky Aiyedatiwa (Ondo). The Deputy Governor of Borno State, Umar Usman Kadafur, was also present.