President of the Dangote Group, Aliko Dangote, has cautioned that the escalating tensions in the Middle East could push Nigeria and other African nations toward adopting pandemic-style work-from-home policies if the situation worsens.
Dangote issued the warning on Monday after a meeting with President Bola Tinubu at the latter’s residence in Ikoyi, Lagos. He voiced strong concerns about the ripple effects of fluctuating global oil prices on African economies already weighed down by debt.
The industrialist stated, “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.”
Pointing to global responses to energy-related pressures, Dangote referenced Indonesia’s approach, where workers have been directed to operate on a four-day work week, with authorities considering a shift to full remote work similar to measures seen during 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 risks bearing a heavier burden from a crisis it has little control over, especially as rising costs may outpace governments’ ability to adjust 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 be most severe on everyday workers and small-scale entrepreneurs, particularly those reliant on fuel-powered operations such as barbers, bakers, and small 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 urged for collective prayers and swift global action to resolve the conflict.
“We just need all hands-on deck to pray that this thing comes to an end,” the Dangote Group chairman stated.
Commenting on President Tinubu’s recent official trip to the United Kingdom, Dangote expressed confidence that the visit would boost investment prospects for Nigeria.
He pointed to the £746 million infrastructure deal secured during the trip, noting that its significance goes beyond the financial value.
“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 agreement could pave the way for further 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 disclosed that Nigerian investors can now access financing from the UK Export Finance agency, which he described as a largely underutilised funding source.
“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.
