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

By Eric Elezuo

The present predicament of the immediate past governor of Kaduna State, Mallam Nasir El-Rufai, has created diverse camps of supportive, non-supportive and completely indifferent reactions.

The former governor, who completed his two terms in office on May 29, 2023, has remained in the news ever since for the wrong reasons. First, falling out with his supposed godson, the incumbent Governor of Kaduna State, Uba Sani, who has accused him of embezzlement of public funds while in office, using the state house of Assembly.

Secondly, he was unceremoniously dropped from the list of favored applicants for ministerial positions after the Senate, in a brazen act, rejected his nomination and failed to confirm him after undergoing ministerial screening. El-Rufai has neither forgiven the Senate nor President Bola Tinubu for allowing that to happen.

El-Rufai, whi was once the Minister of the Federal Capital Territory (FCT), had consequently turned himself into a vocal critic of the government, offering explanations why the present administration must not be allowed to return to power in 2027.

His most recent outburst of accusing the NSA, Mallam Nuru Ribadu, of orchestrating his arrest on arrival to Nigeria from Egypt, had set the stage for his present predicament. The former governor had in a live interview on Arise Television, claimed to have tapping into the NSA’s communications line, thereby becoming privy to the discussions relating to the order of his arrest. He was therefore, invited to explain the whys and hows of his bugging a high level security line. El-Rufai has not come out of detention ever since. His journey has proceeded from the gaurdroom of the Economic and Financial Crimes Commission (EFCC) to the Department of State Security (DSS).

From all indications, these are not the best of times for the immediate past Governor. And stakeholders have insisted that it’s only a passionate presidential pardon that could extricate the former FCT minister from all entanglements.

Meanwhile, a cross-section of the newest opposition block, the African Democratic Congress (ADC) has insisted that the predicaments and persecutions El-Rufai found himself, and is facing at the moment are orchestrations of the ruling All Progressives Congress (APC) by President Tinubu just as the ruling party has maintained that the former governor is facing the music of his actions and inaction while in office between 2015 and 2023.

Recall that in August 2023, the Senate set the tone for what awaits El-Rufai in the Tinubu administration, when the group, against all expectations rejected his nomination as a minister, confirming 45 others. He was one of the nine former governors nominated for ministerial positions by the Tinubu administration.

The Senate refused to confirm the nomination of Nasir El-Rufai, as well as two other nominees including Stella Okotete (Delta) and Sani Danladi (Taraba).

The President of the Senate, Senator Godswill Akpabio, had informed that the three nominees not confirmed would be subjected to further security checks even as he advise them to take their matter to Mr President, stressing that the non-conformation status stemmed from ‘security reasons’.

It must be recalled also that during El-Rufai’s screening on the floor of the Senate, Senator Karimi Sunday from Kogi West Senatorial District raised a “very strong petition” against the ex-Kaduna governor that bothered on insecurity, unity, and national cohesion.

Sunday, who praised El-Rufai’s performance as Kaduna governor and Minister of the Federal Capital Territory (FCT) some 20 years ago, said, “but I have a very strong petition against you that bothers on security, unity and cohesiveness of the Nigerian nation and I think that petition has to be considered along this screening exercise”.

Much as there was a loud resistance from the Senators against the subject, the Senate President insisted on allowing the Kogi senator’s view to stand, citing reception of other petitions against the former governor.

“Distinguished colleagues, perhaps I should inform you that I have received petitions from many other people in respect of other nominees but this is not where we are to deal with petitions. Our job here is to screen and of course, we can refer petitions to where petitions would be dealt with.

“These are the nominees of Mr President. If it is something that is a formal petition before the Senate, we will look at it formally but there are certain petitions that we have to refer to the Presidency or security agencies to look at and that has nothing to do with us.

“I think by the time we are going with the issue of confirmation and approval, we will so advise. So, I will want to plead with my brother (El-Rufai) to take a bow. So, don’t bother about (addressing the petition). Thank you.”

That was the beginning of the many Travails that trailed, and continued to trail the former Kaduna governor. His case was never revisited. His preferred, and speculated ministerial portfolio, Power, was handed to a legal practitioner, marking the end of the presidential consideration. That was when El-Rufai and Tinubu’s relationship entered the stage of ‘no love lost’

Shortly afterwards in June 2024, the Kaduna State House of Assembly’s ad hoc committee had earlier submitted its investigative report on the El-Rufai administration’s financial dealings, loans, and contracts to the House

The chairman of the ad hoc committee, Henry Zacharia, said the loans secured during El-Rufai’s tenure were largely misused, and in some instances, proper procedures were not followed in obtaining them.

The Assembly Speaker, Yusuf Liman, alleged that El-Rufai’s administration misappropriated N423 billion, resulting in significant financial burdens for the state.

Many Nigerians, though had their misgivings about the 8-years stewardship of El-Rufai, dismissed the charges, claiming it was an aftermath of his altercations with the president. Some assumed it was a witchhunt perpetrated by an administration that has issues with the ex-governor.

In response however, El-Rufai sued the Kaduna State House of Assembly over claims that his administration embezzled N432 billion and left the state with significant debt obligations.

He filed a fundamental rights enforcement case against the Kaduna State House of Assembly at the Federal High Court in Kaduna.

El-Rufai, who appeared in person to file the lawsuit, alleged that the committee denied him a fair hearing, according to a statement by the former governor’s media aide, Muyiwa Adekeye, posted on his X handle.

El-Rufai had alleged that he and some others listen to the telephone conversations of Mr Ribadu after an individual tapped the NSA’s phone.

He defended the legality of the phone interception, acknowledging that it is technically illegal but claiming, “The government does it all the time. They listen to our calls without a court order. But someone tapped his phone and told us that he gave the order.”

But like the government has been waiting for the slip, they capitalized on the revelation to initiate another round of investigation against the former governor

In His reaction after the interview on Arise TV, Presidential Spokesperson, Bayo Onanuga, raised concerns about the implications of the claim for national security.

“El-Rufai has confessed to wire-tapping Nigeria’s NSA on TV. Does it mean that he and his collaborators have wire-tapping facilities?” Onanuga queried.

He added that the issue should not be ignored, stressing the need for accountability.

“This should be thoroughly investigated and punishment meted out. El-Rufai is not too big to face the wrath of the law,” the presidential spokesperson stated.

However, between February 16 and 18, El-Rufai was detained by the Economic and Financial Crimes Commission over the allegations of misappropriating ₦432 billion during his tenure as governor of Kaduna State.

The government made good its threat as the DSS arrested the former governor, and filed cybercrimes charge before the Federal High Court in Abuja against him over the phone-tapping allegation. The case was filed as FHC/ABJ/CR/99/2026.

The prosecution said he admitted to intercepting the NSA’s communications, failed to report others who conducted unlawful interceptions, and compromised public safety and national security by using technical systems to tap the NSA’s phone.

The alleged acts were said to violate provisions of the Cybercrimes (Prohibition, Prevention, etc.) (Amendment) Act, 2024, and the Nigerian Communications Act, 2003. No arraignment date has been fixed, and Mr El-Rufai has not publicly responded to the charges.

As Muslims worldwide celebrate Eid-el-Fitr, marking the end of Ramadan, President Bola Tinubu has congratulated the Muslim faithful in Nigeria, urging renewed commitment to the nation and humanity.

President Tinubu enjoined Nigerian Muslims to rededicate themselves to the noble teachings of the holy month, which emphasise piety, empathy, and unity among humanity.

The President’s message was contained in a statement signed by his media aide, Bayo Onanuga, on Thursday.

“We have a lot to draw from the noble lessons of Ramadan, especially at a time like this. We must continue to abide by the virtues of piety, selflessness, perseverance, kindness and compassion beyond this period,” he said.

President Tinubu urged all Muslim faithful to extend a hand of kindness to the needy of all faiths, to further show unity and camaraderie.

The President also tasked Muslim leaders to use the occasion to offer prayers for peace and prosperity to prevail in the country.

On Wednesday, the Sultan of Sokoto and President-General of the Nigerian Supreme Council for Islamic Affairs, Muhammad Sa’ad Abubakar, approved the declaration of Friday as the day for Eid-el-Fitr.

He congratulated Muslims on the successful completion of Ramadan and called for sustained prayers for national unity and development.

The Sultan’s announcement came after the Federal government of Nigeria declared Thursday, 19 March, and Friday, 20 March 2026, as public holidays to mark the celebration of Eid-el-Fitr, which signifies the end of the holy month of Ramadan.

In a statement signed by the Permanent Secretary, Ministry of Interior, Magdalene Ajani, on Tuesday, the Minister of Interior, Olubunmi Tunji-Ojo, who made the declaration on behalf of the Federal Government, extended warm greetings and heartfelt congratulations to the Muslim faithful on the successful completion of the holy month of Ramadan.