Senator representing Edo North, Adams Oshiomhole on Tuesday defended his call for the nationalisation of MTN Group and other South African companies operating in Nigeria, saying the protection of Nigerian lives should take precedence over foreign investment concerns.
Speaking during an interview , Oshiomhole said that Nigeria should consider stronger economic measures against South African interests in response to recurring xenophobic attacks on Nigerians living 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 senator suggested that affected companies could be nationalised and later reprivatised under Nigerian ownership.
“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, saying similar measures could apply to them if attacks on Nigerians persisted.
He linked his position to what he described as repeated violence against Nigerians in South Africa and argued that economic pressure was necessary to compel accountability.
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.
Addressing concerns that nationalisation could discourage foreign investment, the former Edo State governor insisted that human lives were more important than economic interests.
“If anything leads to the death of Nigerians, what is the value of wealth to the dead? We don’t want investors who invest at the expense of human blood,” he said.
Pressed further on investor confidence, Oshiomhole maintained that the debate should focus on the value placed on Nigerian lives.
“Is foreign investment more important than the life of a Nigerian?” he asked.
He said repeated killings of Nigerians in South Africa had occurred without accountability.
“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,” he said.
Oshiomhole also referenced diplomatic engagements during the administration of former President Muhammadu Buhari, saying agreements reached at the time failed to stop the attacks.
“Under Buhari, there was an agreement. They broke it. They are killing Nigerians. Nobody is in prison for murder,” he said.
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 condemned the violence, describing those responsible as opportunists exploiting 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 urged Nigerians living in South Africa to remain vigilant and avoid confrontation.
The commission said the Nigerian Consulate in Johannesburg was engaging South African authorities to ensure the safety of citizens, while the Minister of State for Foreign Affairs was also in discussions with South African officials over the situation.
Oshiomhole’s remarks add fresh tension to ongoing diplomatic discussions over Nigeria’s response to repeated xenophobic attacks while balancing economic and investment relations with South Africa.
