President of Dangote Industries Limited (DIL), Aliko Dangote, has cautioned that rising tensions between the United States and Iran could disrupt global economies and may compel countries like Nigeria to adopt work-from-home measures reminiscent of the COVID-19 pandemic.
Dangote made the remarks while speaking to journalists following his visit to President Bola Ahmed Tinubu, which came after the President’s two-day state visit to the United Kingdom.
Highlighting the outcomes of Tinubu’s UK visit, Dangote emphasized the significance of a recently signed £746 million agreement aimed at boosting Nigeria’s infrastructure, particularly ports. “Securing such funding is not just about the money; it signals growing international confidence in Nigeria’s economy. When one country takes this step, others are likely to follow,” he said.
Dangote also noted the potential benefits for Nigerian investors. “It shows that Nigerian businesses can now access international funding through these agencies, which are increasingly open for business.”
Turning to the broader global situation, Dangote expressed concern over escalating tensions in the Middle East, warning that energy prices could surge and have cascading effects across various sectors. “Energy affects almost everything. If this doesn’t de-escalate, prices will keep rising, putting further strain on governments and citizens—especially in Africa, where debt burdens are already high,” he said.
Drawing a parallel with the pandemic, Dangote suggested that prolonged instability could lead to widespread adoption of remote work. “If the situation worsens, governments may again ask people to work from home, as we did during COVID. For many, missing a day of work means missing a day of income, so the stakes are high.”
He concluded with a call for collective action and diplomacy. “We need all hands on deck to pray and work toward de-escalation. The vulnerability of many Africans to these economic shocks cannot be underestimated.”
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