The chairman and CEO of Dangote Group, Aliko Dangote, has warned that if the situation worsens, Nigeria and other African countries may be forced to implement COVID-era work-from-home policies.
Speaking on Monday following a meeting with President Bola Tinubu at his home in Ikoyi, Dangote emphasized the possible economic impact of fluctuating oil prices on a continent already plagued by debt.
“In some countries today what they’ve done, they asked everybody to work from home because they cannot afford it. Indonesians also only go to work four days a week. If the situation doesn’t improve, Africa may follow a similar path, like we did during COVID,” Dangote said.
Dangote further called for immediate prayers and global attention to end the crisis. “We just need all hands-on deck to pray that this thing comes to an end. It’s going to keep going up, and governments cannot add to salaries. People will really feel the pinch,” he stated.
The industrialist also spoke positively about President Tinubu’s recent UK visit, highlighting a £746 million infrastructure agreement.
He said the deal would boost investor confidence and allow Nigerian investors to access previously untapped UK Export Finance resources.
Concerns expressed during the Russia-Ukraine conflict in 2022, when global oil shocks forced several nations to change their policies, are echoed in the warning.
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