Nigerian Senator Adams Oshiomhole has demanded the nationalisation of South African companies operating in Nigeria. He stated this on Tuesday during an interview on Arise News. This action is proposed as a response to persistent xenophobic attacks on Nigerians in South Africa. Oshiomhole believes Nigerian lives must be protected above all else.
The senator specifically mentioned MTN, a major mobile network operator in Nigeria. He suggested that while Nigerian shareholders might be allowed to retain their stakes, South African ownership rights should be removed. The goal is to ensure that profits generated in Nigeria remain within the country. This move aims to exert economic pressure on South Africa to protect Nigerian citizens. Other South African financial institutions could face similar actions.
Oshiomhole linked his proposal to the recurring violence against Nigerians in South Africa. He argued that economic measures are crucial to force accountability for these attacks. The senator claimed that South African President Cyril Ramaphosa only condemned the violence after Nigeria applied diplomatic and economic pressure. This statement adds to an ongoing, sensitive diplomatic debate. Nigeria has previously engaged in diplomatic talks, but attacks have continued. Commitments made in the past have not stopped the killings, according to Oshiomhole.
During the interview, Oshiomhole addressed concerns that these proposals could harm foreign investment. He firmly stated that the protection of human lives takes precedence over economic considerations. He questioned the value of wealth when Nigerians are dying abroad. "Is human economy, weight, or foreign investor, foreign dollar more important than the life of a Nigerian?" he asked. He argued that Nigeria should not continue to absorb losses while its citizens remain vulnerable.
South Africa has recently experienced a resurgence of protests and attacks targeting foreign nationals. These incidents have occurred in provinces like KwaZulu-Natal and the Western Cape. South African President Cyril Ramaphosa has condemned the violence. He described the perpetrators as opportunists exploiting socio-economic grievances. In Nigeria, the Nigerians in Diaspora Commission (NiDCOM) has advised citizens to remain vigilant. The Nigerian Consulate in Johannesburg is actively engaging local authorities to ensure safety. The Minister of State for Foreign Affairs is also in discussions with her South African counterpart.
This strong stance by Senator Oshiomhole highlights the growing frustration within Nigeria over the treatment of its citizens abroad. The call for nationalisation represents a significant escalation in potential economic responses. It puts pressure on the Nigerian government to consider drastic measures. The debate pits the need to protect citizens against the economic benefits of foreign investment. The outcome of these discussions could influence future bilateral relations and investment policies between the two African economic giants. The value of investment in countries like South Africa could be reassessed by other African nations if similar trends emerge.