Nigeria, June 16 -- The Centre for the Promotion of Private Enterprise (CPPE) on Sunday said the war between Israel and Iran portends a combination of risks and upsides for the Nigerian economy.

In a statement signed by Muda Yusuf, director of CPPE, the think tank said the outbreak has added a troubling dimension to the challenges of an already floundering global economy.

"For the Nigerian economy, the implications are mixed. The development portends a combination of risks and upsides for the economy," Mr Yusuf said.

On Friday morning, Israel launched air strikes on Iran. Israel claimed the strikes were pre-emptive to prevent Iran from building a nuclear bomb, but many countries consider the strike as unprovoked, as talks were still on...