Senator Adams Oshiomhole has called for Nigeria to nationalise MTN and other South African companies operating in its territory. He stated this call on Tuesday during an interview on Arise News. This action is proposed as a strong response to renewed xenophobic attacks against Nigerians in South Africa. The senator believes that Nigeria must prioritize the lives of its citizens over foreign investment.
Oshiomhole suggested that the Nigerian government could nationalise affected companies, including financial institutions. These firms could then be re-privatised under Nigerian control. The goal is to ensure profits generated in Nigeria remain within the country. This would remove any South African shareholding from these entities. Oshiomhole has linked his position to what he described as repeated attacks on Nigerians in South Africa. He alleged that justice has not been served in previous incidents.
This statement highlights ongoing tensions between Nigeria and South Africa. These tensions often resurface due to reports of violence against Nigerians. Nigeria has previously used diplomatic pressure to address these issues. However, Oshiomhole's call for nationalisation represents a significant escalation. It signals a potential shift in Nigeria's approach to foreign investment and economic ties.
Oshiomhole claimed that South African authorities only responded meaningfully after diplomatic pressure. He stated that President Ramaphosa condemned the attacks on Black people only after his interests were challenged. He insisted that human life must take priority over economic considerations. Investment should not come at the cost of Nigerian lives, he argued. "Even in my poverty, I value my life," Oshiomhole told Arise News. He emphasised that human blood should not be part of the cost of doing business.
He further stated that when Nigerians were killed in the past, perpetrators often got away with it. He recalled an agreement under the Buhari administration that was reportedly broken. He questioned if there were no laws protecting foreigners living in South Africa. Even if they were there illegally, he said, legal ways exist to repatriate them. Oshiomhole's call for nationalisation could have significant impacts on regional trade. It also raises questions about the protection of foreign direct investment. Investors will likely watch closely for any official response from the Nigerian government.