Dangote Warns Rising Oil Prices May Force Remote Work, Economic Strain Worldwide

Africa’s richest man, Aliko Dangote, has warned that surging global oil prices driven by tensions in the Middle East could force countries to adopt drastic measures such as remote work and reduced economic activity.

Dangote made the remarks after visiting President Bola Tinubu following the Eid al-Fitr celebrations, noting that the economic pressure from rising energy costs is already being felt globally.

“People will really feel the heat… barbers, bakers, and those running generators will be affected,” he said.

He revealed that some countries have already begun limiting physical work due to the high cost of energy.

“In some countries, people are being asked to work from home because they cannot sustain the cost,” Dangote explained.

Citing Indonesia as an example, he noted that authorities are reportedly considering reduced workdays, with the possibility of stricter measures if the situation worsens—drawing comparisons to the COVID-19 era when remote work became widespread.

Dangote cautioned that if the ongoing conflict does not de-escalate, the economic consequences will deepen globally, even for countries not directly involved.

“If it doesn’t de-escalate, we’ll end up paying big prices,” he warned.

He highlighted Africa’s vulnerability, stressing that many countries lack sufficient financial reserves to cushion economic shocks, leaving citizens heavily dependent on daily income.

“If they don’t work that day, they won’t eat,” he added.

The business mogul also warned that rising energy costs could lead to exploitation, with some individuals taking advantage of the situation to increase prices.

He called for calm and urged global leaders to seek a resolution to the crisis.

Meanwhile, the International Energy Agency has recommended measures such as remote work, reduced transportation, and improved energy efficiency as ways to mitigate the impact of rising energy costs.

Dangote’s remarks underscore growing concerns about the global economic ripple effects of geopolitical tensions and the urgent need for sustainable solutions.