President of the Dangote Group, Aliko Dangote, has warned that the escalating war in the Middle East could push Nigeria and other African nations toward adopting pandemic-style work-from-home policies if the situation worsens.
Dangote gave 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.
He said, “If this thing doesn’t de-escalate, you know, normally we in Africa 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, won’t eat.”
Dangote cited Indonesia’s approach to energy-related challenges, where people have been directed to work four days a week, with authorities mulling a shift to complete remote labor, similar to steps 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 also 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 add to salaries.
“So, people will really, really feel the pinch,” he stated.
Dangote emphasized 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 businesses.
“People who are barbers, people who make bread, people who have industries and who have to pay for their own generators, you know, I mean, you can see what is happening,” he said.
He called 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.
Dangote expressed confidence that President Tinubu’s recent official visit to the United Kingdom will strengthen Nigeria’s investment prospects.
He cited the £746 million infrastructure contract negotiated during the trip, emphasizing that its significance extends beyond its monetary value.
“It has not been easy dealing with the British, getting this kind of money out of them. They too 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 make 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.
He also disclosed that Nigerian investors can now access financing from the UK Export Finance agency, which he described as a largely underutilized 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.
