The Chairman of Dangote Group, Aliko Dangote, has warned that the ongoing Middle East crisis could force Nigeria and other African countries to reintroduce work-from-home measures similar to those used during the COVID-19 pandemic.
Dangote spoke on Monday after meeting with President Bola Tinubu, where he expressed concern about the economic impact of rising oil prices and energy costs on African economies already struggling with debt.
According to him, many African countries lack financial reserves and depend on daily economic activities, meaning any major economic disruption could significantly affect livelihoods.
He noted that some countries, including Indonesia, have already reduced working days due to energy costs and may move fully to remote work if the situation does not improve.
Dangote warned that Africa could suffer heavily from a crisis it is not directly involved in, especially due to rising fuel prices, inflation, and increased operating costs for small businesses and industries that rely on generators for power.
He said small business owners such as barbers, bakers, and small-scale manufacturers would be among the hardest hit if energy costs continue to rise.
The billionaire businessman also called for global efforts to end the conflict and stabilise oil prices to prevent further economic hardship across Africa.
Speaking on Tinubu’s recent state visit to the United Kingdom, Dangote said the trip boosted investor confidence in Nigeria, especially following a £746 million infrastructure agreement supported by UK Export Finance.
He added that the agreement would open opportunities for Nigerian investors to access funding from the UK Export Finance agency for infrastructure and other major projects.
Dangote said he visited the President to extend Eid-el-Fitr greetings and welcome him back from the UK visit, while also discussing economic concerns linked to global oil price volatility.
The Middle East crisis has raised global concerns over oil prices, inflation, transportation costs, and energy supply, with analysts warning that African economies may face significant economic pressure if the conflict continues.
