The Federal Government has raised concerns over the worsening conflict involving Yemen's Houthi forces and Saudi Arabia, cautioning that further instability in the Red Sea could have far-reaching consequences for global oil supplies, international trade, and the world economy.

Addressing journalists in Abuja today, the spokesperson for the Ministry of Foreign Affairs, Kimiebi Ebienfa, said Nigeria remains neutral in the conflict but is urging all parties to pursue dialogue and diplomatic engagement to prevent a further escalation of hostilities.

According to Ebienfa, the renewed tensions in the Red Sea, combined with existing challenges in the Strait of Hormuz and the ongoing Russia-Ukraine war, pose a significant threat to global energy security and maritime commerce. He explained that Nigeria, as one of Africa's leading oil producers, is particularly concerned about the possibility of disruptions to shipping through the Bab al-Mandab Strait, which could severely affect global oil supply chains by delaying cargo movements, increasing freight costs, and driving up crude oil prices.

The government also expressed sympathy with Saudi Arabia over attacks on its oil infrastructure, warning that continued instability could undermine global energy security and place additional economic pressure on developing countries that depend on stable oil markets.

— CHANNELS