Aliko Dangote warns Africa could face work-from-home restrictions due to Middle East crisis and rising oil prices, impacting small businesses
Aliko Dangote, Chairman and CEO of Dangote Group, has warned that the ongoing Middle East crisis could force Nigeria and other African countries to reintroduce COVID-era work-from-home measures if the conflict fails to de-escalate.
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Dangote made the warning on Monday after meeting President Bola Tinubu at his Ikoyi residence, highlighting concerns over oil price volatility and its economic impact on an already debt-burdened continent.
“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 stated.
The industrialist cited Indonesia’s recent energy crisis response, which includes reduced working days and the possibility of full work-from-home arrangements, as a model African countries might be forced to follow.
“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.
If it doesn’t improve, they will ask everybody not to go to work anymore,” Dangote explained.
Dangote emphasised that ordinary Africans, including small business owners such as barbers and bread sellers, and industries relying on generators, would bear the brunt of the crisis.
“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 said.
The billionaire businessman called for urgent international intervention and prayers to resolve the conflict. “We just need all hands on deck to pray that this thing comes to an end,” he added.
In addition to his warning, Dangote praised President Tinubu’s recent state visit to the United Kingdom for opening doors to Nigerian business and investment.
He highlighted the £746 million infrastructure agreement, describing it as significant beyond its monetary value and a signal of confidence in Nigeria.
“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 said.
He also noted that Nigerian investors can now access the UK Export Finance agency, a long-underutilised credit resource.
The infrastructure agreement focuses on port development and other critical sectors, with funding from UK Export Finance, and is expected to boost private sector participation in national development projects.
The Middle East crisis has raised global concerns over oil price volatility, which could exacerbate inflation, transportation costs, and energy-related sector pressures across Africa.
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Despite being an oil-producing nation, Nigeria remains vulnerable due to its dependence on imported refined petroleum products.
