From Kayemo News
President Bola Tinubu has warned that the escalating Middle East crisis could reignite inflationary pressures and severely erode the purchasing power of Nigerians.
He advised state executives to provide incentives to cushion the inflationary impact on energy and transportation.
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.
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. {The Punch}