From fuel prices to daily survival, Africa’s richest man warns the Middle East crisis could ripple into every corner of Nigeria’s economy.
Business mogul Aliko Dangote has warned that rising tensions in the Middle East could trigger serious economic shocks for Nigeria and other African countries.
Speaking after meeting with Bola Ahmed Tinubu in Lagos, Dangote said global oil volatility—despite Nigeria not being directly involved—will still impact the country due to its deep ties to the global economy.
He cautioned that prolonged instability could drive up fuel prices, transportation costs, and inflation, worsening hardship for citizens already facing economic pressure.
“Energy affects everything,” Dangote said, noting that from small businesses to large industries, rising costs would disrupt operations and livelihoods.
He also warned that governments could face increased fiscal strain, while Africa’s growing debt burden may worsen under prolonged global shocks.
Dangote urged world leaders to prioritise de-escalation, stressing that many Nigerians depend on daily income and are highly vulnerable to economic disruptions.
On a more positive note, he praised Tinubu’s recent UK visit, saying it has boosted investor confidence and opened new opportunities, particularly in infrastructure and financing.
According to him, the engagements signal that Nigeria is becoming more attractive to global investors, with potential benefits for sectors like ports, trade, and large-scale projects.
Dangote expressed optimism that more countries would follow with investments, describing the development as a major step toward sustainable economic growth.
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