Aliko Dangote has warned that Nigeria and other African nations might return to COVID-era work-from-home rules.
The Chairman of Dangote Group gave this warning on Monday after meeting with President Bola Tinubu in Lagos.
He expressed worry over how the ongoing Middle East conflict affects oil prices. Because Africa lacks large financial reserves, many people must work daily to eat.
“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 said.
Dangote noted that some countries are already taking drastic steps to handle high energy costs.
The industrialist specifically pointed to Indonesia as an example. Authorities there have asked staff to work only four days a week to save money.
Indonesia Example Shows Possible Future Restrictions
The billionaire alleged that Nigeria could face similar choices if the global situation worsens.
“In some countries today, what they’ve done is ask 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 added
Furthermore, he noted that the cost of energy will keep rising without international intervention. “We will do like that time of COVID, where people will work from home,” he added.
This crisis targets small business owners like barbers and bread sellers who rely on generators. Since the government cannot easily increase salaries, many families will feel the financial pain.
“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 noted.
“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 added.
Dangote called for prayers and global action to stop the conflict. “We just need all hands-on deck to pray that this thing comes to an end,” he said.
Confidence Grows Following UK Infrastructure Agreement
Despite these warnings, Dangote shared positive news about President Tinubu’s recent trip to the United Kingdom. He noted that the new £746m infrastructure deal shows growing global trust in Nigeria.
“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 predicted a ripple effect. “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.”
Nigerian investors can now tap the UK Export Finance agency too.
“For Nigerian investors, it has shown that we can also go to the same agency and tap the resources… we will go as private people to look for them to give us support,” he explained.
“It’s not about the money. It’s about the confidence in Nigeria,” Dangote stated.
He believes this agreement will encourage other nations like Germany to invest in the country soon.
Dangote visited Tinubu to give Eid-el-Fitr greetings and respect after the trip.
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