G7 leaders will discuss ways to support sustainable economic growth on Wednesday (today) as they grapple with the strain the war in Iran is placing on the global economy.
Since Mr Tinubu assumed power in 2023 more Nigerians have been plunged into the pit of poverty.
They noted that in one month, over $100 billion has been extracted from people through rising energy costs.
The minister said he had also suspended his trips to France, Spain, and Niger.
President Donald Trump addressed Americans on Wednesday night, saying the U.S. military ‘Operation Epic Fury’ is nearing completion of its objectives in Iran.
Fuel prices in some parts of Somalia have more than doubled, raising transportation costs for passengers and businesses.
The United States Department of War has ordered the deployment of about 2,000 American paratroopers to the Middle East.
Saudi Arabia has invited foreign ministers from several Arab and Islamic countries to talks in Riyadh on Wednesday evening.
Addressing the U.S., the military spokesman said, “You should know that you cannot keep the price of oil and energy artificially low.”
Clemence Dubois, 350.org’s global campaign manager, said the current crisis highlighted a structural weakness in the global energy system.
