President Bola Ahmed Tinubu on Friday assured Nigerians that his administration is taking steps to cushion the economic pressures linked to the ongoing Middle East crisis, particularly rising fuel costs.

Speaking at a civic reception in Yenagoa, the Bayelsa State capital, the president acknowledged the hardship faced by citizens and said the Federal Government is working with the Ministry of Finance, Budget and Economic Planning to provide relief.

He noted that although fuel prices are increasing, Nigeria’s situation remains comparatively stable when viewed alongside challenges in other African countries.

“We will continue to find ways to ameliorate the suffering of the vulnerable,” Tinubu said, adding that government interventions would be guided by ongoing fiscal assessments.

The president attributed current economic difficulties partly to global disruptions, stressing that Nigeria is feeling the ripple effects of an interconnected world impacted by conflict.

“These are challenges of a war we did not initiate, but whose consequences affect us all,” he said.

During the visit, Tinubu inaugurated a 60-megawatt gas-fired Independent Power Plant located in Elebele, Ogbia Local Government Area, describing it as a vital step toward economic growth, job creation and improved living standards.

The facility, developed under the administration of Bayelsa State Governor Douye Diri, is expected to reduce reliance on the national grid and enhance electricity supply in Yenagoa and surrounding communities.

Tinubu commended the project as a strategic investment in energy infrastructure, noting that stable power supply is essential for industrialisation and skills development.

He also praised the state government’s infrastructure drive, including road and bridge construction, which he said is creating employment opportunities and boosting economic activity.

Governor Diri, in his remarks, linked the project to the Federal Government’s “Renewed Hope Agenda,” stating that it positions Bayelsa as a destination for investment and industrial expansion.

He also appealed for federal reimbursement for state-funded federal road projects, while outlining ongoing initiatives under his “Assured Prosperity” programme, including major road networks, a new civil service secretariat, and a proposed international stadium.

The governor highlighted the transformation of previously inaccessible communities, citing the Yenagoa–Oporoma–Ukubie road as a key example of improved connectivity and economic inclusion.

The event attracted several high-profile dignitaries, including former President Goodluck Jonathan, Senate President Godswill Akpabio, and governors from multiple states, underscoring its political and economic significance.

The ceremony reflects ongoing efforts by both federal and state governments to address infrastructure gaps while managing the broader economic impact of global energy and geopolitical developments.