Xenophobic attacks: Nigerian lives more important than investment — Oshiomhole

Senator representing Edo North, Adams Oshiomhole, on Tuesday defended his call for the nationalisation of MTN and other South African companies operating in Nigeria, insisting that Nigerian lives must take precedence over foreign investment amid renewed xenophobic attacks in South Africa. Oshiomhole made the remarks on Tuesday during an interview on Arise News, where he argued that Nigeria should take stronger economic action against South African interests in response to repeated attacks on Nigerians abroad.

“I am aware that MTN is quoted, and therefore Nigerian shareholders can hold on, but we take away the South African rights,” he indicated. that, in his view, Nigeria should consider restructuring ownership of affected firms to ensure 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.

” The senator also referenced other foreign financial institutions operating in the country, insisting that similar action could apply to them. Oshiomhole linked his position to what he described as persistent attacks on Nigerians in South Africa, arguing that economic pressure was necessary. That South African President Cyril Ramaphosa only publicly condemned attacks on foreigners after Nigeria applied diplomatic and economic pressure, though he did not provide evidence for the claim.

During the interview, Oshiomhole defended his position against concerns that such proposals could discourage foreign investment, arguing that the protection of lives should take precedence over economic considerations. “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 showed.