Africa’s richest man, Aliko Dangote, has warned that the ongoing crisis in the Middle East could push many countries, including Nigeria, back to the work-from-home model last seen during the COVID-19 pandemic.
Dangote made the remark on Monday after a closed-door meeting with President Bola Ahmed Tinubu at the President’s residence in Lagos.
He expressed concern over rising oil prices and energy costs triggered by the conflict, saying the situation is already affecting fuel prices and could worsen economic hardship for ordinary citizens.
“In some countries today, they have asked everybody to work from home because they cannot afford the energy cost,” Dangote said. “In Indonesia, they only go to work four days a week. If the situation doesn’t improve, we may return to the COVID era where people work from home.”
The Dangote Group chairman noted that the crisis would hit small businesses and ordinary Africans hardest from barbers and bread sellers to industries that rely on generators for power.
He called for prayers and urgent international intervention to de-escalate the conflict, warning that prolonged uncertainty would make it difficult for governments to increase salaries while living costs continue to rise.
On a positive note, Dangote commended President Tinubu’s recent state visit to the United Kingdom, describing the £746 million infrastructure financing agreement signed during the trip as a major achievement.
“It has not been easy getting this kind of money from the British. They too are struggling. But this is not just about the money it shows confidence in Nigeria,” he said.
Dangote expressed hope that the UK deal would encourage other countries to invest in Nigeria and disclosed that Nigerian investors can now access the UK Export Finance agency, a facility that had remained largely untapped for years.
The meeting between Dangote and President Tinubu focused on the economy and strategies to cushion the impact of global shocks on Nigeria.
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