6th of April, 2026

Aliko Dangote

, Chairman of the Dangote Group, has warned that the ongoing Middle East conflict (between Iran, Israel, and the US) will cause widespread economic hardship across Africa, stating that “everyone will feel the impact” of rising energy costs.

~Arise News +1

Following a meeting with President Bola Tinubu in late March 2026, Dangote emphasized that even though Africa is not directly involved in the conflict, the continent is highly vulnerable to global oil price shocks due to its heavy debt burden and lack of financial reserves.

Key Warnings & Economic Impacts

• Universal Impact: High energy costs will affect everyone, from large industries to small businesses like barbers and bakeries that rely on generators.

• Work-from-Home Return: Dangote suggested that if fuel prices become unbearable, countries may be forced to adopt COVID-era measures, such as remote work and reduced workweeks, to minimize transportation costs.

• Daily Earners at Risk: He noted that many Africans depend on daily earnings; if they cannot afford to commute to work, they cannot eat.

• Inflationary Pressure: Rising fuel costs are directly driving up the prices of food, transport, and general household goods.

Arise News +6

Current Fuel Price Situation (as of April 2026)

Despite the presence of the Dangote Petroleum Refinery, petrol prices in Nigeria have reached record highs:

• Record Prices: Retail petrol prices have surged to between ₦1,300 and ₦1,400 per litre across Nigeria, up from approximately ₦875 before the conflict began in late February 2026.

• Refinery Adjustments: The Dangote Refinery adjusted its gantry (ex-depot) prices multiple times in March alone, recently reaching ₦1,245–₦1,275 per litre.

• Global Exposure: Refinery management clarified that they are fully exposed to global market forces, including crude oil, freight, and insurance costs, which have all spiked due to the geopolitical crisis.

• Cooking Gas: The price of Liquefied Petroleum Gas (LPG) has also risen, reaching ₦1,500 per kg in many locations as of April 3, 2026.