Nigeria Will Pay Heavy Price If Middle-East Crisis Persists

Nigeria Will Pay Heavy Price If Middle-East Crisis Persists — Dangote

By Momoh Oluwateniola

President of the Dangote Group, Aliko Dangote, has warned that Nigeria could face serious economic problems if the ongoing conflict involving Iran does not end soon.

Dangote said the war in the Middle East is already affecting global oil supply and pushing up crude oil prices. According to him, if the situation continues, it will make fuel more expensive and increase hardship for Nigerians.

He explained that Nigeria is still affected by global oil market changes, even with local refining. Rising crude prices usually lead to higher fuel costs, which then affect transport, businesses, and daily living.

Furthermore, he noted that disruptions in oil supply routes, especially in the Middle East, could make it harder and more expensive for countries like Nigeria to get petroleum products.

Experts have also warned that the conflict could put pressure on economies that depend on imported fuel, as higher energy costs may lead to inflation and increased cost of living.

However, Dangote added that improving local refining capacity can help reduce the impact of such global crises, even though it may not completely stop the effects.

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