Aliko Dangote, President of the Dangote Group, has warned that rising tensions in the Middle East could force Nigeria and other African countries to adopt pandemic-era work-from-home measures if the crisis deepens.
Dangote gave the warning on Monday after meeting with President Bola Tinubu at his Ikoyi residence in Lagos. He expressed deep concern over the effects of unstable global oil prices on African economies already burdened by debt.
The businessman said, “If this thing doesn’t de-escalate, you know, normally we in Africa, we don’t have any reserves in terms of savings.
“And so, people normally go out and look for money for the next day or for even the same day. Some of them, if they don’t work that day, they won’t eat.”
Referring to how some countries are responding to energy-related challenges, Dangote cited Indonesia, where workers have been asked to operate on a four-day work week, while authorities consider a possible switch to full remote work similar to the COVID-19 period.
“In some countries today, what they’ve done, they asked everybody to work from home because they cannot afford it.
“I think Indonesians also only go to work four days a week. And they will look at the situation if it doesn’t improve, they will ask everybody not to go to work anymore.
“We will do like that time of COVID, where people will work from home,” Dangote stated.
He warned that Africa could suffer more from a crisis it did not create, especially as rising living costs may exceed governments’ ability to increase wages.
“It’s not only energy. Some people will try and take a chance and say, ‘Ah, this is an opportunity. So, let me make money.’
“So, if this thing doesn’t de-escalate, it is going to keep going up and up and up, and governments cannot really and add to salaries.
“So, people will really, really feel the pinch,” he stated.
Dangote stressed that the impact would hit ordinary workers and small business owners hardest, especially those who depend on fuel-powered operations such as barbers, bakers and small-scale industries.
“People who are barbers, people who make bread, people who have industries, who have to pay for their own generators, you know, I mean, you can see what is happening,” he said.
He called for prayers and urgent global efforts to bring the conflict to an end.
“We just need all hands-on deck to pray that this thing comes to an end,” the Dangote Group chairman stated.
Speaking on President Tinubu’s recent official visit to the United Kingdom, Dangote said he believes the trip will improve Nigeria’s investment outlook.
He pointed to the £746 million infrastructure deal secured during the visit, saying its importance goes beyond the amount involved.
“It has not been easy dealing with the British, getting this kind of money out of them. They too, they are struggling on their own. But I think this is to show confidence — it’s not about the money. It’s about the confidence in Nigeria,” Dangote said.
According to him, the deal could encourage more international partnerships.
“The moment that they do that, there will be other countries that will follow suit. Germany will come, others will line up and start coming up,” he stated.
Dangote also said Nigerian investors can now seek funding from the UK Export Finance agency, which he described as a financing window that has not been fully tapped.
“For Nigerian investors, it has shown that we can also go to the same agency and tap the resources. It means that the agency now is open for business for Nigerians, and we will go as private people to look for them to give us support,” he explained.
