Aliko Dangote, the chairman and CEO of the Dangote Group, has cautioned that if the conflict does not subside, Nigeria and other African nations may be forced to implement Covid-era work-from-home regulations.
Following a meeting with President Bola Tinubu at his Ikoyi mansion in Lagos on Monday, Dangote issued the warning. He expressed serious concerns about the economic effects of oil price volatility on the continent, which is already heavily indebted.
The industrialist stated, “If this thing doesn’t de-escalate, you know, normally we in Africa, we don’t have any reserves in terms of savings.
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“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 Indonesia’s response to the strains of the energy crisis, in which authorities ordered employees to work only four days a week and are contemplating complete work-from-home arrangements akin to the COVID-19 pandemic.
“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 further emphasized that Africa would pay a disproportionate price for a crisis in which the continent has no involvement.
“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.
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Dangote underlined that common Africans running small businesses—particularly barbers, bread vendors, and industries that rely on generators for power—would be most severely impacted by the crisis.
He called for urgent prayers and international intervention to end the conflict.
Speaking about President Tinubu’s recent state visit to the UK, Dangote expressed hope that Nigerian investment and business will benefit from the trip.
Additionally, he anticipated that other nations will be inspired to do the same by the UK accord.
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