Inside Dangote Meeting With Tinubu
Africa’s richest businessman, Aliko Dangote, has warned that the ongoing Middle-East crisis could worsen economic hardship in Nigeria and across Africa, as rising fuel prices strain households and governments.
He spoke after meeting with Bola Tinubu in Lagos.
Dangote said prolonged instability in global oil markets could push energy costs even higher, making it difficult for governments to increase salaries despite rising living expenses.
He noted that small businesses and everyday workers would be among the hardest hit.
He also warned that Africa’s heavy debt burden leaves little room to absorb new shocks, adding that the continent may face deeper economic pressure despite not being directly involved in the conflict.
The concerns come amid fears over disruptions to global energy supply routes like the Strait of Hormuz, which handles a significant share of the world’s oil shipments.
Analysts say any prolonged disruption could further drive up fuel prices.
Dangote added that countries may be forced to adopt emergency measures such as reduced work schedules or remote work if the crisis continues, similar to what was seen during COVID-19.
