Aliko Dangote, Chairman and CEO of Dangote Group, has cautioned that the ongoing Middle East conflict could force Nigeria and other African nations to adopt COVID-era work-from-home measures if the situation worsens.
Middle east tension and Nigeria’s economy
While speaking on Monday after meeting President Bola Tinubu at his Ikoyi residence, Dangote highlighted the potential economic strain from oil price volatility on a continent already burdened by debt.
“In some countries today what they’ve done, they asked everybody to work from home because they cannot afford it. Indonesians also only go to work four days a week. If the situation doesn’t improve, Africa may follow a similar path, like we did during COVID,” Dangote said.
He explained that ordinary Africans, especially small business operators such as barbers and bread sellers, would feel the greatest impact.
Urgent prayers and International intervention needed
Dangote further called for immediate prayers and global attention to end the crisis. “We just need all hands-on deck to pray that this thing comes to an end. It’s going to keep going up, and governments cannot add to salaries. People will really feel the pinch,” he stated.
The industrialist also spoke positively about President Tinubu’s recent UK visit, highlighting a £746 million infrastructure agreement.
He said the deal would boost investor confidence and allow Nigerian investors to access previously untapped UK Export Finance resources.
The warning echoes concerns raised during the 2022 Russia-Ukraine conflict, which saw global oil shocks forcing policy adjustments in several countries.
