Chairman and CEO of Dangote Group, Aliko Dangote, has raised concern that the ongoing crisis in the Middle East could push African countries, including Nigeria, toward remote work arrangements similar to those adopted during the COVID-19 pandemic if the situation worsens.
He shared this on Monday after a visit to President Bola Tinubu at his residence in Ikoyi, Lagos, where discussions centred on the economic pressure linked to rising global oil prices and the continent’s debt burden.
Dangote warned that many African economies operate with little financial buffer, leaving citizens exposed to shocks.
“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.”
He referenced how Indonesia has adjusted work patterns in response to energy strain, including reduced workdays and possible shifts to remote work models.
“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 said Africa risks bearing the heaviest burden of a conflict it did not trigger.
“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 noted that the impact would be strongest among low-income earners and small business operators who depend on daily income and generator-powered operations.
“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 global action to bring an end to the crisis.
“We just need all hands-on deck to pray that this thing comes to an end,” the Dangote Group chairman stated.
On Nigeria’s economic ties with the United Kingdom, Dangote expressed optimism about outcomes from President Tinubu’s recent state visit.
He pointed to a £746 million infrastructure deal signed during the trip, saying its significance goes beyond funding 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.
He added that the deal could open doors for more partnerships from other countries.
READ ALSO: Dangote Refinery: A Vision Ahead of Its Time and a Turning Point for Africa
“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 now have clearer access to the UK Export Finance agency, a funding channel previously underused.
“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.
The UK-backed infrastructure deal under Tinubu’s visit focuses on port development and related sectors.
Dangote said his visit to the President was also to mark Eid-el-Fitr greetings and acknowledge Tinubu’s return from the UK trip.
The Middle East crisis continues to raise global concerns over oil price swings, with ripple effects on inflation, transport costs, and energy-heavy sectors across Africa.
Nigeria remains exposed to these shifts despite being an oil-producing country, due to its reliance on imported refined fuel.