Senator representing Edo North, Adams Oshiomhole, on Tuesday defended his call for the nationalisation of MTN Group and other South African-owned businesses operating in Nigeria, insisting that the protection of Nigerian lives should take precedence over foreign investment concerns.
Speaking during an interview on Arise News, Oshiomhole argued that Nigeria should adopt tougher economic measures against South African interests following renewed xenophobic attacks targeting Nigerians and other foreign nationals in South Africa.
“I am aware that MTN is quoted, and therefore Nigerian shareholders can hold on, but we take away the South African rights,” he said.
The former Edo State governor suggested that Nigeria could restructure ownership of affected firms to place them under local control.
“And because of the issue, I’m not sure of the legal status, that’s why I say you nationalise, and then you reprivatise it so that Nigerians can take it over, and the profit they are taking out of Nigeria will be retained here. There will be no South African share in it,” he added.
Oshiomhole also referenced foreign financial institutions operating in Nigeria, suggesting that similar measures could be considered against them if attacks on Nigerians in South Africa persist.
The senator linked his position to what he described as repeated attacks on Nigerians in South Africa without accountability, arguing that economic pressure was necessary to compel action from the South African authorities.
He further claimed that South African President Cyril Ramaphosa only publicly condemned xenophobic attacks after Nigeria applied diplomatic and economic pressure, although he did not provide evidence to support the claim.
“If anything leads to the death of Nigeria, what is the value of wealth to the dead? We don’t want investors who invest at the expense of human blood. Even in my poverty, I value my life,” Oshiomhole said.
Responding to concerns that nationalisation proposals could discourage foreign investors, the senator maintained that human lives should remain the priority.
“Is human economy, wealth, or foreign investor, foreign dollar more important than the life of a Nigerian?” he asked.
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Oshiomhole accused South African authorities of failing to hold perpetrators accountable for repeated attacks on Nigerians.
“When a country, for the first time, kills Nigerians, they got away with it. Second time, they riot, they kill Nigerians, they got away with it. Third time, they kill Nigerians, they got away with it,” he said.
He also recalled previous diplomatic engagements between both countries under former President Muhammadu Buhari, alleging that agreements reached at the time failed to stop the violence.
“Under Buhari, there was an agreement. They broke it. They are killing Nigerians. Nobody is in prison for murder, extrajudicial murder,” he stated.
South Africa has in recent weeks witnessed renewed protests and attacks targeting foreign nationals in parts of Durban, Cape Town, East London and KwaZulu-Natal.
President Ramaphosa has condemned the violence, describing those involved as opportunists exploiting socio-economic frustrations under the guise of community activism.
“These are the acts of opportunists who are exploiting the legitimate grievances, particularly those of the poor, under the false guise of ‘community activism,’” Ramaphosa said.
Meanwhile, the Nigerians in Diaspora Commission (NiDCOM) has advised Nigerians residing in South Africa to remain vigilant and avoid confrontations.
The commission also confirmed that the Nigerian Consulate in Johannesburg was engaging South African authorities to ensure the safety of Nigerians, while diplomatic discussions were ongoing between both countries through the foreign affairs ministries.
The debate has added fresh tension to discussions over how Nigeria should respond to xenophobic attacks while maintaining economic and investment ties with South Africa.
