Nigeria dey position to benefit from di rise for global oil prices while still dey manage di risks wey follow am, di Minister of Finance and Coordinating Minister of di Economy, Wale Edun, tok yesterday.

While e dey speak for Abuja for di World Bank presentation of di Development Update on Nigeria, Edun say di Federal Government dey plan to "maximise revenue gains from higher crude oil prices" as di country dey face di economic pressure wey global tensions, especially di ongoing crisis for Middle East, don cause.

According to am, Nigeria wey be oil-producing country put am for special position where e fit gain and lose at di same time.

"While higher oil prices fit bring more government revenue, dem also increase costs across di economy, especially for energy and food production. We dey on both sides of di matter," Edun tok.

Di minister explain say di rising global prices don already start to affect domestic inflation. E point out say higher gas prices don make fertilizer cost increase, wey still make food prices go up and make life harder for ordinary people.

Edun warn say inflation still be serious concern, especially as global happenings dey create uncertainty.

E add say higher interest rates for advanced economies fit make Nigeria's economic situation worse by increasing borrowing costs and raising di money wey government go use to pay debts.

"For this kind of situation, we must prepare for different outcomes," e tok.

Edun reveal say di Economic Management Team (EMT) dey actively analyse different global scenarios and dey advise President Bola Tinubu on wetin to do.

"Dis include checking how long di current geopolitical tensions fit last and how dem fit affect Nigeria economy," e tok.

Despite all di challenges, di minister say Nigeria still dey for stronger position sake of di series of economic reforms wey dem don carry out for recent years.