U.S.–Iran Tensions: Soaring Oil prices could push Nigerians to remote work — Dangote

Aliko Dangote, the chairman and CEO of the Dangote Group, has cautioned that the current crisis in the Middle East may lead Nigerians to revert to remote work similar to that during the COVID-19 pandemic if the situation does not improve.

After a meeting with President Bola Tinubu in Lagos, he expressed worries about how fluctuating oil prices could negatively affect Africa’s already heavily indebted economies.

“If this situation doesn’t calm down, you know that in Africa, we typically lack savings. People usually need to find money on a daily basis, relying on their daily work for their livelihood. If they don’t work today, they won’t be able to eat,” Dangote pointed out.

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He referenced Indonesia, where workers are restricted to a four-day work week or may be required to work from home. “In some countries, they’ve implemented remote work because they can’t sustain the costs. For example, Indonesia has limited work to four days a week, and if conditions don’t improve, they might ask everyone to stay home. We might have to revert to a COVID-like situation where people work remotely,” he noted.

Dangote also emphasized that small businesses would bear the brunt of this crisis: “Those running local services like barbershops or bakeries, as well as manufacturers reliant on their generators, will really feel the impact. The situation is becoming dire.”

He called for collective prayers and international assistance, stating: “We need everyone to unite in hopes that this situation resolves soon.”