The President of the Dangote Group, Aliko Dangote, has expressed concerns about the ongoing Middle East crisis taking many countries back to the COVID19 era’s work from home.

Dangote stated this on Monday, after a meeting with President Bola Ahmed Tinubu at his residence in Lagos.

While expressing concern about the economic impact of oil price uncertainty, Africa’s Richest man noted that Nigeria and other African countries might be forced to start working from home, just like the COVID19 era.

Dangote called for prayers and international intervention to end the conflict which has affected the price of fuel and other energy sources in the country.

He said, “In some countries today, what they’ve done is ask everybody to work from home because they cannot afford it.“I think in Indonesia, they only go to work four days a week. And they will look at the situation. If it doesn’t improve, they will ask everybody not to go to work anymore. We will do like that time of COVID, where people will now go and work from home,” Dangote said.

It’s not only energy. Some people will try to take a chance and say, ‘Ah, this is an opportunity. So, let me make money. So, if this thing doesn’t de-escalate, it is going to keep going up and governments cannot really now go and add salaries also. So, people will really feel the pinch,” he said.

Dangote explained that the crisis would hit hardest at ordinary Africans operating small businesses, “People who are barbers, people who are doing bread, people who have industries who have to pay their own generator, I mean, you can see what is happening,” he said.

Binance Holdings Limited on Tuesday said it is exploring a resolution of the tax evasion charges filed against it by the Federal Government, signalling a pause in the trial.

Sunday Agaji, the company’s counsel disclosed this before Emeka Nwite of the Federal High Court in Abuja.

Moses Ideho, counsel to the government a deputy director in the legal department of the Federal Inland Revenue Service (now Nigeria Revenue Service), confirmed the development.

Although the matter was slated for continuation of trial, Ideho told the court he had been informed earlier by the defence that the company had approached the tax authority to discuss an out-of-court settlement.

Agaji said discussions were ongoing.

“My lord, parties are exploring settlement. That is essentially where we are,” he said.

Following submissions from both parties, Justice Nwite adjourned the case until May 12 for a report on settlement talks.

( Business Day)

Fuel prices in the Federal Capital Territory have surged sharply, with petrol now selling for as high as N1,371 per litre at some stations, sparking frustration among consumers.

Reports showed NIPCO selling at N1,371 per litre and AYM Shafa at N1,370 per litre. NNPC Retail has also raised its pump price to N1,361 per litre, up from N1,261 per litre last week, while MRS, a Dangote partner station, now charges N1,367 per litre, up from N1,270.

The increases come after Dangote Refinery’s recent gantry price adjustments, marking roughly a 55 per cent rise in petrol prices over the past three weeks.

Earlier hikes included:

March 3: NNPC at N975/litre, AYM Shafa at N960/litre

March 6: NNPC at N1,068/litre, AYM Shafa at N1,098/litre

March 9: NNPC climbed from N1,161 to N1,267/litre; AYM Shafa rose from N1,230 to N1,300/litre

Minor dips two days later were short-lived, as prices surged again in subsequent days.