Aliko Dangote, Africa’s richest man, has warned that the ripple effects of the ongoing war between Iran and the United States and Israel would be felt by everyone if it further escalates.
He disclosed this on Monday after meeting with Nigeria’s president, Bola Ahmed Tinubu, at his Lagos residence.
Dangote, whose 650,000-barrel-per-day refinery had increased its gantry petrol at least five times in March to N1,245 per litre, stressed the consequences of a persistent war in the Gulf region.
In his words, the price of the war would be ‘heavy’.
“If the situation does not de-escalate, we will end up paying a heavy price.
“Energy affects everything. From small businesses like barbers to industries running generators, everyone will feel the impact if costs continue to rise,” he said.