Aliko Dangote, chairman of Dangote Group, has urged the international community to take urgent action to resolve the ongoing Middle East crisis, warning that its economic fallout could mirror conditions seen during the COVID-19 pandemic.
Speaking on Monday after a meeting with President Bola Ahmed Tinubu at the presidential residence in Lagos, Dangote highlighted the potential impact of rising oil prices and energy instability on both Nigeria and other African countries.
He cautioned that if the crisis continues, governments may have no choice but to implement remote work policies, similar to the COVID-19 period.
“In some countries today, what they’ve done is ask everybody to work from home because they cannot afford it. I think in Indonesia, they 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,” Dangote said.
He also warned that rising costs could be exploited by opportunists, creating further strain on ordinary citizens as governments struggle to adjust salaries to match inflation.
“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 governments cannot really now go and add salaries also. So, people will really feel the pinch,” he said.
Dangote stressed that the crisis would hit small business owners and everyday workers hardest, especially those reliant on generators or fuel to run their operations.
“People who are barbers, people who are doing bread, people who have industries who have to pay their own generator, I mean, you can see what is happening,” he added, calling for prayers and swift international intervention to prevent the situation from worsening.
