The Senator representing Edo North, Adams Oshiomhole, has defended his call for the nationalisation of MTN and other South African companies operating in Nigeria, insisting that the lives of Nigerians must take priority over foreign investment.
PrimeTimes Nigeria reports that Oshiomhole spoke on Tuesday during an interview on Arise News, where he said Nigeria must take stronger economic action against South African interests following renewed xenophobic attacks on Nigerians and other foreign nationals in South Africa.
The former Edo State governor argued that diplomatic engagements had not produced the desired result, adding that economic pressure had become necessary to force accountability.
Take Away South African Rights – Oshiomhole Suggests
Oshiomhole said Nigerian shareholders in MTN could retain their stakes, but insisted that South African ownership interests should be removed.
“I am aware that MTN is quoted, and therefore Nigerian shareholders can hold on, but we take away the South African rights,” he said.
He added that the Federal Government could nationalise affected companies and later return them to private ownership under Nigerian 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,” Oshiomhole added.
The senator also said similar action could be considered against other foreign financial institutions operating in Nigeria, especially where countries linked to such investments failed to protect Nigerians.
Responding to concerns that nationalisation could scare away investors, Oshiomhole said the protection of Nigerian lives should be the government’s primary concern.
“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,” he said.
Pressed further on the possible economic implications of his proposal, he asked, “Is human economy, weight, or foreign investor, foreign dollar more important than the life of a Nigerian?”
Oshiomhole maintained that Nigeria should not continue to protect foreign investments while its citizens are repeatedly attacked abroad.
“If you are a slave of wealth, if you are a slave of a foreign investor, even if that investor is blood-soaked… what is money to the dead?” he added.
The lawmaker said repeated attacks on Nigerians in South Africa had gone largely unpunished.
“When a country, for the first time, kills Nigerians, they got away with it. The second time, they riot, they kill Nigerians, and they get away with it. Third time, they kill Nigerians, they got away with it,” he said.
He also referenced past diplomatic engagements under former President Muhammadu Buhari, saying agreements reached at the time had failed to stop the attacks.
“Under Buhari, there was an agreement. They broke it. They are killing Nigerians. Nobody is in prison for murder, extrajudicial murder,” the former Governor of Edo State said.
Oshiomhole further claimed that South African President Cyril Ramaphosa only publicly condemned attacks on foreigners after Nigeria applied diplomatic and economic pressure, although he did not provide evidence to support the claim.
PrimeTimes Nigeria recalls that 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.
Ramaphosa condemned the violence, describing the perpetrators as opportunists taking advantage of socio-economic grievances.
“These are the acts of opportunists who are exploiting the legitimate grievances, particularly those of the poor, under the false guise of ‘community activism,’” he said.
In Nigeria, the Nigerians in Diaspora Commission has urged Nigerians in South Africa to remain alert and avoid confrontation.
NiDCOM said the Nigerian Consulate in Johannesburg was engaging local authorities to ensure the safety of Nigerians, adding that the Minister of State for Foreign Affairs was also in talks with her South African counterpart.
Oshiomhole’s comments have further intensified debate over how Nigeria should respond to repeated attacks on its citizens abroad while managing diplomatic and investment relations with South Africa.