Headlines
Dangote Warns of Dire Consequences for Nigeria If Iran War Continues
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
Veteran journalist and chieftain of the African Democratic Congress (ADC), Chief Dele Momodu, has declared that a joint presidential ticket between Atiku Abubakar and Peter Obi represents the strongest strategy for the opposition to defeat the ruling All Progressives Congress in the 2027 general elections.
Speaking on Politics Today on Channels Television, Momodu said the emerging ADC coalition is gaining momentum as a credible alternative to President Bola Tinubu’s administration, which he accused of promoting “one-man rule” and weakening democratic institutions.
Momodu argued that an Atiku–Obi ticket offers both experience and electoral appeal, noting that both politicians already command significant national followings from previous elections. He recalled their collaboration in 2019, adding that Obi’s performance in the 2023 presidential election provides a ready base of supporters that can be consolidated.
According to him, the coalition is further strengthened by the involvement of political heavyweights such as Rabiu Kwankwaso and Rotimi Amaechi, making it a formidable opposition alliance.
“The candidates who placed second, third, and even fourth are aligning. That naturally builds a strong challenge,” Momodu said, suggesting that this development could unsettle the APC ahead of 2027.
He also accused the Tinubu administration of centralising power and undermining democratic processes, claiming that key institutions—including the legislature and electoral system—are increasingly influenced by the executive arm of government. He warned that such a trend poses risks to Nigeria’s democracy.
Momodu further alleged that opposition parties face systemic obstacles, including difficulties in accessing venues, legal pressures, and institutional interference. He argued that these challenges have made opposition unity not just strategic, but necessary.
Dismissing concerns about possible cracks within the ADC coalition, Momodu described such fears as speculative, insisting that current political realities have effectively forced major opposition figures to work together.
The Supreme Court has scheduled hearing for April 22 in the appeal filed by the National Chairman of the African Democratic Congress (ADC), Senator David Mark, in relation to the leadership dispute in the party.
Mark’s appeal is against the March 12 judgment of the Court of Appeal, which dismissed his appeal against the September 4, 2025 ruling by Justice Emeka Nwite of the Federal High Court in Abuja refusing to grant some injunctive reliefs contained in an ex-parte application filed by a chieftain of the party, Nafiu Bala Gombe.
A five-member panel of the Supreme Court, led by Justice Mohammed Garba chose the date on Tuesday after granting accelerated hearing in the appeal marked: SC/CV/180/2026.
The court ordered Mark’s lawyer, Jibril Okutepa (SAN) to file the appellant’s brief and serve on Wednesday.
It ordered the respondents to each file and serve on the appellant, a respondent’s brief within three days of being served with the appellant’s brief.
The appellant, according to the court, is to file a reply brief, if needs be, within one day of being served with the respondents’ briefs.
Headlines
Amid Denials, ADC Reportedly Secures Rainbow Event Centre As Venue for National Convention
Baring any last minute change, the leadership of the African Democratic Congress (ADC) under Senator David Mark and Rauf Aregbesola as National chairman and National Secretary respectively will hold the party’s National convention at the National Rainbow Event Centre in Garki on Tuesday, 14 April 2026.
The African Democratic Congress (ADC) has being denied two venues without any cogent reasons despite early arrangements, according to sources.
First, it was alleged that the Abuja Transcorp Hilton Hotels, which was initially approached, turned down the ADC request to use it’s facility.
The ADC, having sensed sabotage, has kept the Rainbow Event Center under rap as it’s definite venue.
The last National Executive Committee (NEC) of the party was held at the same venue.
Located adjacent the Nigerian Police Force Headquarters, the event centre will host the second NEC meeting of the ADC and it’s forthcoming national convention.
According to The Guardian’ report, the ADC leadership has communicated the venue to state chapters with the caveat not to escalate it.
The ADC is in a battle of survival against the Independent National Electoral Commission (INEC) and has approached the Supreme Court for intervention.
The INEC national chairman Prof Joash Amupitan has suspended recognition of the David Mark-led ADC rendering a leadership vacuum in the party.
INEC said it’s decision was on the basis of an Appeal Court pronouncement that ordered statusquo ante-bellum be maintained.
Reports say that why the venue is being quietly decorated moderately for the event, the ADC intends to fully move in the early hours of Tuesday.
The Guardian
