By Our Correspondent
National News – Nigerian billionaire industrialist, Aliko Dangote, has warned that the ongoing Middle East crisis could force Nigeria and other African nations to return to COVID-era work-from-home policies if the conflict continues to escalate.
Dangote made the statement on Monday after meeting with Nigeria’s President, Bola Ahmed Tinubu, at the President’s residence in Ikoyi, Lagos.
Dangote raised concerns about the economic consequences of rising oil prices triggered by the Middle East conflict.
According to him, the crisis could significantly affect African economies that lack strong financial reserves.
He explained that many Africans depend on daily income to survive, meaning disruptions in economic activity could create serious hardship.
The Dangote Group chairman noted that if global oil prices continue to rise due to prolonged tensions in the Middle East, governments may consider limiting workdays or encouraging remote work to reduce energy consumption and transportation costs.
He referenced Indonesia as an example, saying authorities there have reduced office attendance to four days per week and are considering full remote work if the situation worsens.
Dangote emphasised that Africa would likely suffer the most from the global economic ripple effects despite having no direct involvement in the conflict.
He warned that inflation, rising fuel prices, and increased operational costs could worsen the economic burden on citizens and small businesses.
According to him, small-scale entrepreneurs such as barbers, bread sellers, and factory operators who rely heavily on generators for electricity could be the most affected if fuel prices continue to increase.
Many of these businesses already struggle with high energy costs and unstable power supply.
Dangote also expressed optimism about Nigeria’s economic prospects following President Tinubu’s recent state visit to the United Kingdom.
He highlighted a £746 million infrastructure agreement signed during the trip, describing it as a strong vote of confidence in Nigeria’s economy.
The agreement, supported by the UK Export Finance agency, focuses on port development and other key infrastructure projects.
Dangote said the deal could encourage additional investments from countries like Germany and other global partners.
He urged global leaders and citizens to support diplomatic efforts and prayers aimed at ending the Middle East crisis quickly to prevent further economic strain worldwide.
