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Middle East war may force Nigerians to work from home – Dangote

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Chairman and CEO of Dangote Group, Aliko Dangote, has warned that the ongoing Middle East crisis could force Nigeria and other African countries to adopt COVID-era work-from-home restrictions if the conflict does not de-escalate.

Dangote gave the warning on Monday after meeting with President Bola Tinubu at his Ikoyi residence in Lagos, expressing deep concern about the economic impact of oil price volatility on the continent already burdened by debt.

The industrialist stated, “If this thing doesn’t de-escalate, you know, normally we in Africa, we don’t have any reserves in terms of savings.

“And so, people normally go out and look for money for the next day or for even the same day. Some of them, if they don’t work that day, they won’t eat.”

He cited Indonesia’s response to energy crisis pressures, where authorities asked workers to operate only four days a week and are considering full work-from-home arrangements similar to the COVID-19 pandemic.

“In some countries today what they’ve done, they asked everybody to work from home because they cannot afford it.

“I think Indonesians also only go to work four days a week. And they will look at the situation if it doesn’t improve, they will ask everybody not to go to work anymore.

“We will do like that time of COVID, where people will work from home,” Dangote stated.

The billionaire businessman warned that Africa would pay a disproportionate price for a crisis in which the continent has no involvement.

“It’s not only energy. Some people will try and take a chance and say, ‘Ah, this is an opportunity. So, let me make money.’

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“So, if this thing doesn’t de-escalate, it is going to keep going up and up and up, and governments cannot really and add to salaries.

“So, people will really, really feel the pinch,” he stated.

Dangote emphasised that the crisis would hit hardest at ordinary Africans operating small businesses, especially barbers, bread sellers, and industries dependent on generators for power.

“People who are barbers, people who make bread, people who have industries, who have to pay for their own generators, you know, I mean, you can see what is happening,” he said.

He called for urgent prayers and international intervention to end the conflict.

“We just need all hands-on deck to pray that this thing comes to an end,” the Dangote Group chairman stated.

Speaking on President Tinubu’s recent state visit to the United Kingdom, Dangote expressed optimism the trip will open doors for Nigerian business and investment.

He highlighted the £746m infrastructure agreement signed during the visit, describing it as significant beyond the monetary value.

“It has not been easy dealing with the British, getting this kind of money out of them. They too, they are struggling on their own. But I think this is to show confidence — it’s not about the money. It’s about the confidence in Nigeria,” Dangote said.

He predicted that the UK agreement would encourage other countries to follow suit.

“The moment that they do that, there will be other countries that will follow suit. Germany will come, others will line up and start coming up,” he stated.

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Dangote also revealed that Nigerian investors could now access the UK Export Finance agency, a credit resource that has remained largely untapped for years.

“For Nigerian investors, it has shown that we can also go to the same agency and tap the resources. It means that the agency now is open for business for Nigerians, and we will go as private people to look for them to give us support,” he explained.

The infrastructure agreement signed during Tinubu’s UK visit focuses on port development and other critical areas, with funding from UK Export Finance.

Dangote said he visited the President to extend Eid-el-Fitr greetings and pay his respects following Tinubu’s return from the two-day state visit to the United Kingdom.

The Middle East crisis has triggered concerns about oil price volatility globally, with potential impacts on inflation, transportation costs, and energy-dependent sectors across Africa.

Nigeria, despite being an oil-producing nation, remains vulnerable to global oil price fluctuations due to its dependence on imported refined petroleum products.

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Oshiomhole seeks ban on MTN, DSTV, read why

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The senator representing Edo North, Adams Oshiomhole, on Tuesday called for the revocation of licences of South African companies operating in Nigeria, including MTN and MultiChoice, owners of DSTV, following renewed xenophobic attacks against Nigerians in South Africa.

The call came as the National Assembly condemned the latest wave of attacks, urging the Federal Government to take immediate diplomatic and protective measures to safeguard Nigerian citizens abroad.

Speaking during plenary, Oshiomhole said Nigeria must respond firmly, invoking the principle of reciprocity in international relations.

He said, “I don’t want this Senate to be shedding tears, to sympathise with those who have died. We didn’t come here to share tears.

“If you hit me, I’ll hit you. I think it is appropriate in diplomacy. It’s an economic struggle.”

The former Edo State governor proposed that Nigeria should nationalise MTN and withdraw its operating licence, arguing that the company repatriates significant revenue while Nigerians face hostility in South Africa.

“This Senate should adopt a position that MTN, a South African company that is cutting away millions of dollars from Nigeria every day, should have Nigeria nationalise it and withdraw its licence,” he said.

According to him, such action would not only serve as a deterrent but also create opportunities for indigenous firms, amid what he described as economic and social targeting of Nigerians abroad.

He extended the call to MultiChoice, urging the Federal Government to revoke DSTV’s licence over alleged exploitative practices.

“I call on the Federal Government to revoke DSTV, which is also a South African company that is cutting away millions of dollars,” he said.

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Oshiomhole linked the recurring tensions to domestic political dynamics in South Africa, noting that anti-immigrant rhetoric had become a feature of its politics and was shaping public attitudes toward foreign nationals, including Nigerians.

“When we hit back, the president of South Africa will go on his knees to recognise that Nigerians cannot be intimidated,” he said.

The senator made the remarks while contributing to a motion sponsored by Osita Izunaso, which was read on the floor by Aniekan Bassey under Senate rules on matters of urgent public importance.

Titled “A call for urgent national diplomatic and humanitarian action to defend the dignity, safety and honour of Nigerian citizens,” the motion highlighted growing concerns over the safety of Nigerians in South Africa.

Also speaking, Senator Victor Umeh described the situation as alarming, warning that Nigerians were living in fear.

“It is worrisome. They are hiding for their lives. They can’t move freely. This is a situation where people are paying good with evil,” he said, referencing Nigeria’s historical support for the anti-apartheid struggle.

Umeh called on the African Union to intervene and impose sanctions, warning that Nigeria could no longer tolerate attacks on its citizens.

“The AU, of which South Africa is a member, should rise now and impose necessary sanctions,” he said, adding that “we cannot allow this to continue.”

Oshiomhole, however, doubled down on calls for economic retaliation, arguing that Nigeria must move beyond rhetoric.

“I don’t want this Senate to be shedding tears to sympathise with those who have died. We didn’t come here to shed tears. I am not going to shed tears. If you hit me, I hit you. I think it is appropriate in diplomacy. It is an economic struggle,” Oshiomhole said.

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He further argued that Nigerians should take advantage of opportunities in the local economy, currently dominated by foreign firms.

Senator Abdul Ningi warned South Africans over recent attacks on Nigerians, threatening that the country would take the fight to their territory.

“If a crime has been committed under the South African law, they have the right to bring any such person to justice, but to kill our people as if we are helpless, we will not allow that.

“If these things continue, we have alternatives, we have options, and therefore, these words should be sent across South Africa. We know where South Africans are, not only in Nigeria but all over Africa, and we can take this fight to their territory,” he said.

Speaking, the Senate President, Godswill Akpabio, decried the attack, adding that the National Assembly would send a joint team to meet with the South-African parliament on the matter.

“This is just not acceptable, this is barbaric, this is cruel, this is unheard of, this is strange behaviour, and we’re not seeing action from the government of South Africa. These are aspects that annoy me,” Akpabio said.

The development underscores mounting pressure on the Federal Government to adopt a tougher stance, as recurring xenophobic violence in South Africa continues to strain diplomatic relations and provoke calls for both economic countermeasures and stronger protections for Nigerians abroad.

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Naira gains, trades 1,365/$ at official FX market

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…NFEM rate — N1,365.2474/$

…Naira strengthens by at least N9

…Black market (Buying and selling rates) — N1,390 — N1,400

The Nigerian naira strengthened against the United States (US) dollar, trading at N1,365.2474 at the Central Bank of Nigeria (CBN) official foreign exchange window on Monday, 4th May, 2026.

According to the data shared on the official platform of the Central Bank of Nigeria (CBN), the naira traded at the Nigerian Foreign Exchange Market (NFEM) rate of N1,365.2474 per dollar and closed at N1,367.5000 per dollar.

Tribune Online reports that the Nigerian currency traded at an NFEM rate of N1,374.9431 on 30th April 2026, which was the previous trading date. Comparing this with the trading rate on Monday, the naira strengthened by at least N9.

At the parallel market, the naira-to-dollar buying rate decreased by N3, while the selling rate increased by N2, compared with the previous trading rate on 30th April, 2026.

According to Aboki FX, the Naira-to-dollar exchange rate at the black market on Monday, 4th May, 2026, was N1,390 for the buying rate and N1,400 per dollar for the selling rate.

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Experts promote rabbit value chain investment

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Experts in animal production have identified rabbit farming as a viable avenue for economic growth, job creation, and improved nutrition in Nigeria.

The experts made this known during a public lecture held at the Bauchi State College of Agriculture on Friday as part of activities marking Rabbit Appetite Day.

Speaking at the event, a registered animal scientist and lecturer at the Federal Polytechnic Damaturu, Sani Muazu, said there was a need to promote both the consumption and commercial production of rabbits across the country.

He described rabbit production as a largely untapped but promising sector capable of contributing significantly to Nigeria’s economy.

“Rabbit farming in Nigeria is still underdeveloped, with only about three to five per cent of the population engaged in the enterprise, mostly at small-scale family levels where farmers keep an average of two to seven breeding females. Despite this, the sector offers vast opportunities for expansion and commercialisation,” he said.

Muazu noted that rabbits are highly productive animals, with a gestation period of about 30 days and the capacity to produce up to 20 or more offspring annually.

He added that their low feeding and housing requirements make them suitable for students, smallholder farmers, and urban residents seeking alternative sources of income.

According to him, rabbit production extends beyond farming to other economic activities such as breeding, feed supply, veterinary services, processing, and marketing.

He also highlighted the nutritional value of rabbit meat, describing it as rich in protein, low in fat, and suitable for addressing protein deficiency in the country.

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On environmental sustainability, Muazu said rabbits require less land and water and emit fewer greenhouse gases compared to larger livestock, making them suitable for climate-smart agriculture, particularly in semi-arid regions.

However, he identified low public awareness and high mortality rates among young rabbits as major challenges hindering the sector’s growth.

He urged students and youths to take advantage of opportunities in rabbit farming by starting small-scale ventures that could grow into profitable agribusinesses, while calling on government and private sector players to invest in the development of the rabbit value chain.

In his remarks, the Provost of the Bauchi State College of Agriculture, Dr Ahmed Isah, described the event as timely and impactful, noting that it would encourage students to embrace self-employment through agriculture.

“Such initiatives are critical in addressing unemployment. Graduates can become employers of labour through ventures like rabbit farming,” he said.

He also encouraged members of the public to engage in rabbit production, describing it as a profitable and easy-to-start enterprise with the potential to improve livelihoods and boost the nation’s economy.

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