Chairman of Dangote Group, Aliko Dangote, has warned that a prolonged crisis in the Middle East could force Nigeria and other African countries to adopt work-from-home measures similar to those seen during the COVID-19 pandemic.
Dangote issued the warning on Monday after meeting with Bola Tinubu at his Ikoyi residence in Lagos, expressing concern over the economic strain caused by rising oil prices and global uncertainty.
“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 the same day. Some of them, if they don’t work that day, they won’t eat,” Dangote said.
He cited measures already being considered in countries like Indonesia, where workers have been asked to reduce working days, with the possibility of full remote work if the situation worsens.
“In some countries today, what they’ve done is ask everybody to work from home because they cannot afford it.
“I think Indonesia also says 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 now go and work from home,” he said.
The billionaire industrialist warned that Africa could suffer disproportionately from a crisis it did not create, noting that rising energy costs would hit small businesses and low-income earners hardest.
“It’s not only energy. Some people will try to 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 now go and add salaries also.
“So, people will really, really feel the pinch,” he stated.
Dangote pointed to the impact on small-scale operators reliant on fuel and generators.
“People who are now doing barbers, people who are doing bread, people who have industries who have to pay their own generator, you know, I mean, you can see what is happening,” he added.
He called for urgent global intervention to resolve the crisis, saying, “We just need all hands on deck to pray that this thing comes to an end.”
Commenting on Tinubu’s recent state visit to the United Kingdom, Dangote described the trip as a boost for investor confidence, particularly highlighting the £746 million infrastructure agreement.
“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,” he said.
He added that the deal could open doors for further international investment.
“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,” Dangote noted.
The business magnate also said Nigerian investors can now access funding from UK Export Finance, describing it as a significant opportunity.
“For Nigerian investors, it has shown that we can also go to the same agency and tap the resources. It means that the agency is now open for business for Nigerians, and we will go as private people to look for them to give us support,” he said.
Dangote said his visit to the president was also to extend Eid-el-Fitr greetings following the conclusion of Tinubu’s two-day state visit to the UK.
