Nigeria: Dangote warns Nigeria to brace for impact of Iran war on economy

By Zuleihat Owuiye, Mamos Nigeria

Nigeria’s economy is vulnerable to the escalating tensions in the Middle East, according to Aliko Dangote, Africa’s richest man. The industrialist warned that prolonged conflict could trigger higher fuel prices, rising transport costs, inflation, and widespread hardship across African economies.

Dangote made the remarks during a courtesy visit to President Bola Tinubu in Lagos, emphasizing that Nigeria’s economic challenges would worsen if the situation doesn’t de-escalate. “We are part of a global village, and unfortunately, developments like this will affect us even if we are not directly involved,” he said.

Dangote urged global leaders to prioritize de-escalation, stressing that many Nigerians rely on daily earnings and are highly exposed to economic shocks. He also highlighted the positive outcomes of Tinubu’s recent visit to the UK, citing new economic opportunities and strengthened investment outlook.