Senator representing Edo North, Adams Oshiomhole, has 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 must take precedence over foreign investment concerns amid renewed xenophobic attacks in South Africa.
Oshiomhole made the remarks during an interview on Arise News on Tuesday, where he argued that Nigeria should adopt stronger economic measures against South African interests in response to repeated attacks on Nigerians living in the country.
The former governor of Edo State acknowledged that MTN has Nigerian shareholders due to its listing on the Nigerian stock market, but maintained that Nigeria could still remove South African ownership interests from such companies.
“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 further suggested that the government could restructure the ownership of affected firms to ensure local control and retain profits within Nigeria.
“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 stated.
Oshiomhole also referenced foreign financial institutions operating in Nigeria, indicating that similar actions could be considered against them if attacks on Nigerians in South Africa persist.
The senator linked his position directly to what he described as repeated and unresolved xenophobic violence against Nigerians in South Africa, arguing that economic pressure remained one of the few effective tools available to compel accountability.
He claimed that South African President Cyril Ramaphosa only publicly condemned attacks on foreigners after diplomatic and economic pressure was mounted by Nigeria, although he did not provide evidence to support the assertion.
During the interview, Oshiomhole rejected concerns that nationalisation proposals could discourage foreign investment in Nigeria, insisting that human lives should rank above economic considerations.
“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. Even in my poverty, I value my life,” he said.
Pressed further on whether such policies could scare away investors, the senator maintained that the debate should focus on morality and national dignity rather than purely economic calculations.
“Is human life, or foreign investor, foreign dollar more important than the life of a Nigerian?” he asked.
Oshiomhole lamented what he described as a recurring pattern of violence against Nigerians in South Africa without accountability or prosecution of perpetrators.
“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 during the administration of former President Muhammadu Buhari, arguing that commitments reached at the time failed to stop subsequent attacks.
“Under Buhari, there was an agreement. They broke it. They are killing Nigerians. Nobody is in prison for murder, extrajudicial murder,” he stated.
The senator questioned why Nigeria should continue prioritising foreign investment over the safety of its citizens 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.
His comments come amid renewed reports of protests and attacks targeting foreign nationals in parts of Durban, Cape Town, East London and KwaZulu-Natal in South Africa.
President Ramaphosa recently condemned the violence, describing those responsible 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.
In Nigeria, the Nigerians in Diaspora Commission has urged Nigerians residing in South Africa to remain vigilant and avoid confrontations while efforts continue to engage South African authorities over the safety of citizens.
The commission also disclosed that Nigeria’s Minister of State for Foreign Affairs is currently in discussions with South African officials regarding the situation.
