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Dangote Warns of Dire Consequences for Nigeria If Iran War Continues
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Nigeria’s foremost industrialist, Alhaji Aliko Dangote, has warned that Middle-East tensions driving global oil volatility could have far-reaching consequences for Nigeria and African economies.
Dangote spoke on Monday in Lagos after a courtesy visit and Eid-el-Fitr homage to President Bola Tinubu.
He said the visit was to extend Sallah greetings, reconnect with the president after some time, and reaffirm respect and continued support for the administration’s policies.
Dangote noted Nigeria had no direct role in the crisis but would still feel the impact because of deep global economic interdependence.
“We are part of a global village, and unfortunately, developments like this will affect us even if we are not directly involved,” he said.
He warned that prolonged tensions could trigger higher fuel prices, rising transport costs, inflationary pressures, and widespread hardship across African economies.
“If the situation does not de-escalate, we will end up paying a heavy price, especially given existing economic challenges,” Dangote said.
He explained that governments could face mounting fiscal strain as subsidies rise and revenues fluctuate under unstable global oil market conditions.
Dangote added that Africa’s rising debt burden could worsen under prolonged instability, further limiting fiscal space and weakening economic resilience.
“Africa is already grappling with debt, and additional shocks will only compound hardship for governments and the people,” he said.
He said escalating energy costs would disrupt nearly every sector, including small enterprises, manufacturing chains, logistics operations and household consumption patterns.
“Energy affects everything. From small businesses like barbers to industries running generators, everyone will feel the impact if costs continue to rise,” he said.
Dangote noted that some countries are already adopting coping strategies such as reduced workdays, energy rationing and remote working arrangements.
He said such measures, while necessary, could reduce productivity, slow economic output and affect livelihoods, particularly among vulnerable populations.
Dangote urged global leaders to prioritise de-escalation, stressing that many Africans rely on daily earnings and remain highly exposed to economic shocks.
“In Africa, in Nigeria, many people depend on daily earnings. If they don’t work, they don’t eat. So we must pray this situation comes down quickly,” he said.
On Tinubu’s recent visit to the United Kingdom, Dangote said the trip had opened new economic opportunities and strengthened Nigeria’s investment outlook.
“I believe the visit has opened many doors. Diplomacy without economic outcomes is incomplete, and this has created opportunities for Nigeria,” he said.
He said agreements reached during the visit, especially in infrastructure and financing, signaled growing international confidence in Nigeria’s reform agenda.
“It is not just about the money committed, but the confidence it shows in Nigeria and the reforms being implemented,” he said.
Dangote said planned investments in critical sectors such as ports would significantly improve trade efficiency and support medium-term economic expansion.
“These investments will help improve our infrastructure, especially in key areas like ports, and complement ongoing government efforts,” Dangote said.
He expressed optimism that other countries, including Germany, would follow with investments as confidence in Nigeria’s economy strengthens.
“Once confidence is established, other countries will come in. It is a signal that Nigeria is ready for business,” he said.
Dangote said the agreements would enable Nigerian private sector players to access international financing and technical support for large-scale projects.
“For Nigerian investors, this shows we can approach these agencies to access funding. It means they are now open to supporting our projects,” Dangote said.
He described the development as a breakthrough, noting that such credit facilities had historically remained underutilised by Nigerian businesses.
“We have not really utilised these resources before, but now there is clear capacity and willingness to fund viable Nigerian projects,” he said.
Dangote reaffirmed his support for the administration, expressing confidence that reforms, partnerships and investor confidence would drive sustainable economic growth in Nigeria.
NAN
Headlines
Atiku Drags Tinubu to Court over Certificate Forgery, Eligibility to Contest 2027 Election
Atiku, who is the presidential candidate of the African Democratic Congress (ADC), personally appeared at the court registry to depose to an affidavit in support of the suit.
The suit was instituted by Atiku and the ADC against President Tinubu, the All Progressives Congress (APC), and the Independent National Electoral Commission (INEC).
It is anchored on Sections 137(1)(j), 139(1)(a)(i), and 285(14)(c) of the 1999 Constitution, as well as provisions of the Electoral Act, 2026.
At the heart of the case is Section 137(1)(j), which disqualifies anyone who presents a forged certificate to INEC from contesting for President.
The plaintiffs are asking the court to determine whether Tinubu and the APC should be disqualified from the 2027 election over allegations that the President submitted an NYSC discharge certificate bearing the name “Tinubu Bola Adekunle” to INEC for both the 2023 and 2027 elections.
According to Atiku’s affidavit, the name on the certificate is different from “Bola Ahmed Tinubu,” and the document was not obtained by the President.
Speaking after taking the oath, Atiku said his personal appearance was to show seriousness.
“I came here personally because the issues before the court go to the heart of our Constitution and the integrity of the office of President… I have therefore put my name, my signature and my oath behind the facts we are presenting to the court. Now it is President Tinubu’s turn to answer them,” he said.
The suit also asks INEC to produce Tinubu’s Form CF001 submitted for the 2023 and 2027 elections.
Atiku said he had applied for certified true copies of the form but got no response before filing.
“This is precisely why we have gone to court. We are not asking Nigerians to decide this matter on social media… We are asking the institution holding the records to produce them and the judiciary to examine the evidence and pronounce on it,” Atiku stated.
“If the certificate belongs to Bola Ahmed Tinubu, let that be established before the court. If ‘Tinubu Bola Adekunle’ and ‘Bola Ahmed Tinubu’ are one and the same person for the purpose of that certificate, let the evidence establish it.”
Beyond the certificate, the ADC and Atiku are also challenging aspects of the Electoral Act, 2026, which they argue restrict pre-election challenges to a candidate’s qualification. They contend that no law can override the Constitution.
“Can an Act of the National Assembly be used as a shield against an express provision of the Constitution?… Our position is that the Constitution remains supreme,” Atiku said.
Among the reliefs sought is an order disqualifying Tinubu and the APC from participating in the 2027 presidential election if the court upholds the plaintiffs’ case.
“Nobody should misunderstand what is at stake. Nigerian graduates cannot complete NYSC documentation with one identity and simply ask employers to ignore discrepancies… The Presidency is not an immunity certificate against constitutional scrutiny,” he added.
Atiku further urged INEC to demonstrate neutrality by making the relevant records available to the court.
“The 2027 election must begin with clarity about the qualification of those seeking the Presidency. Nigerians should not be asked to vote first and investigate later,” he said.
Lead counsel, Joseph Onu Silas, Esq., said the legal team was confident the case would help deepen Nigeria’s electoral jurisprudence.
“This is not about privilege, personalities or presidential power. It is about one Constitution and one standard for every Nigerian. Nobody is above the Constitution — not Atiku Abubakar, not Bola Tinubu, and certainly not the President of the Federal Republic of Nigeria,” Onu said.
Lawyer petitions EU over Tinubu’s qualification, cites ‘subversion of constitution’
Relatedly, a renowned Nigerian lawyer, Kalu Kalu Esq., has submitted a petition to the European Union in Brussels, alleging that President Bola Ahmed Tinubu subverted constitutional order ahead of the 2027 general election.
His remark was shared on Facebook Friday by Paul Ibe, Media Adviser to former Vice President Atiku Abubakar.
Kalu, who spoke at the European Commission headquarters, said the petition seeks the EU’s intervention to “help restore constitutional democracy in Nigeria.”
He accused President Tinubu of submitting false academic credentials to the Independent National Electoral Commission, INEC, and failing to state the primary and secondary schools he attended.
“Mr President, Bola Ahmed Tinubu, has suspended the constitutional order in Nigeria because of his false academic credentials, which he submitted to INEC for the 2027 general election and he did not state the primary school and the secondary school he attended,” Kalu said.
The lawyer cited Section 137(1)(j) of the 1999 Constitution, arguing that presenting a false certificate to INEC disqualifies a candidate.
“Section 1371J says if you have presented a false certificate to INEC, the Independent National Electoral Commission, you will not be qualified to run election and he has submitted forged documents, forged certificates to INEC that made him not to be qualified to run for the 2027 general election,” he stated.
Kalu further alleged that because “they have captured all the power in Nigeria,” the President has “imposed himself on Nigeria, thereby subverting the provisions of the constitution of the Federal Republic of Nigeria as amended, which is a mini-coup, a sub-coup against the people of Nigeria.”
He said the purpose of his visit to Brussels was to formally submit the petition to the EU and solicit support for the restoration of constitutional governance in Nigeria.
“Good afternoon all and good afternoon to the whole world. I am here at the European Commission to submit a petition to the European Union concerning the subversion of constitutional order in Nigeria… So, I’m here to submit the petition to the EU to help restore constitutional democracy in Nigeria,” he said.
As of the time of filing this report, the Presidency and INEC have not responded to the allegations.
The European Union-Supported Election Observation Group has deployed 843 observers across Osun State for Saturday’s governorship election, as part of efforts to independently assess the conduct of the poll.
The group, comprising the Centre for Media, Society, the International Press Centre, the Nigerian Women’s Trust Fund, the Kukah Centre and Yiaga Africa, disclosed this in its preliminary statement on the election on Friday in Osogbo, the state capital.
Speaking at the event, the Executive Director of Yiaga Africa, Samson Itodo, said the observers would monitor, document and report on the electoral process in line with the principles of independence, impartiality and non-partisanship.
Itodo said; “the election was of significant national importance as it would provide another opportunity to assess the implementation of provisions of the electoral legal framework and offer INEC, security agencies, electoral stakeholders and the public further insight into preparations ahead of the 2027 general election.”
He said, “the group acknowledged INEC’s declared operational, technological and logistical readiness for the election, including the deployment of election materials and personnel.”
The EU group also noted that INEC had increased the number of Bimodal Voter Accreditation System devices following technical challenges identified during the mock accreditation exercise, with additional devices provided as backup.
On result management, however, the group called for greater clarity on the electronic transmission and backend validation of polling unit results.
It urged INEC to make the result transmission process more transparent and verifiable, including providing clearer information on the backend validation process and the use of electronic result sheets.
The group also called on the Commission to ensure smooth electronic transmission of validated polling unit results and maintain adequate live backup of election data to prevent disruptions during accreditation and counting.
United States President, Donald Trump, says his country is now in “total control” of the Strait of Hormuz amid ongoing tensions with Iran over the reopening of the strategic waterway.
Trump made the claim while speaking to reporters at Joint Base Andrews, saying the situation with Iran was progressing well despite continued disagreements between both countries.
“Iran is going fine – going just absolutely fine. We totally control the Strait of Hormuz. We have control over it; nobody else, only us. Our navy is unbelievable, and things going great for our country,” Trump told reporters at Joint Base Andrews.
“I don’t trust Iran. I’m the last person to trust Iran; they’ve lied to me constantly. We have total control over the Hormuz Strait right now; they don’t have control,” he added.
The claim comes as the United States and Iran continue to exchange demands over the reopening of the Strait of Hormuz, casting further uncertainty over negotiations aimed at ending their five-month conflict.
Although the US has confirmed its involvement in the talks, Iran maintains that it is negotiating directly only with Oman. Tehran has also proposed that the future management of the strategic waterway be shared with Oman.
The Strait of Hormuz is a critical global energy route, with about one-fifth of the world’s oil and liquefied natural gas supplies passing through it before the US-Israel war with Iran began at the end of February.
On Monday, Trump said he would seek compensation from Iran for deaths and injuries associated with conflicts and attacks spanning several decades.
His position followed Iran’s demands for reparations over the war last week, as Tehran said it would not reopen the strait until Washington addresses its political and economic conditions.
