Africa’s richest man and President of the Dangote Group, Aliko Dangote, has raised fresh concerns over the economic impact of the ongoing tensions in the Middle East, warning that a prolonged conflict involving the United States, Israel, and Iran could deepen hardship in Nigeria and across Africa.
Dangote spoke after a visit to President Bola Ahmed Tinubu at his residence in Lagos.
Aliko Dangote says the current global energy shock is not unique to Nigeria, but part of wider disruptions triggered by escalating geopolitical tensions in the Middle East.
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He warned that the situation, if not quickly de-escalated could drive up energy costs, worsen inflation, and place additional pressure on African economies already burdened by rising debt.
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According to him, the conflict has heightened volatility in global oil and gas markets, with direct consequences for countries like Nigeria where energy costs significantly influence the prices of goods and services.
Dangote noted that energy remains central to economic activity, powering industries, transportation, and small businesses; many of which rely heavily on petrol and diesel to operate.
He also cautioned that some actors may exploit the crisis for profit, further driving up prices and compounding the burden on ordinary citizens.
He added that across parts of the world, governments are already adopting cost-saving measures, including encouraging remote work to reduce energy consumption.
Dangote stressed that while Nigeria is not directly responsible for the crisis, its effects are global and Africa, with its fragile economic buffers, may be among the hardest hit.
