A Nigerian lawmaker has called for the nationalisation of MTN Group operations in Nigeria, arguing that no foreign investment should outweigh the value of Nigerian lives amid renewed concerns over xenophobic attacks in South Africa.
Adams Oshiomhole, who represents Edo North Senatorial District, said Nigeria should move to end South African control of the telecom giant while allowing Nigerian shareholders to retain their stakes.
“I’m aware that MTN is quoted on the stock exchange, and Nigerian shareholders can hold on to their shares, but we should take away South African control,” Oshiomhole said. “We should re-privatise it so Nigerians can take it over, and there would be no repatriation of funds to South Africa.”
The senator linked his comments to recurring tensions surrounding xenophobic violence in South Africa, where foreign nationals — including Nigerians — have at times been targeted during periods of economic hardship and rising unemployment.
Referring to Cyril Ramaphosa, whom he described as a major shareholder in MTN during his political campaign, Oshiomhole argued that rhetoric around jobs and foreign workers had contributed to hostility against other Africans.
“South Africa has high unemployment, and some have transferred aggression against other Africans,” he said. “Life is more important. Nigeria should not look for investors who choose wealth over human life.”
The remarks are likely to reignite debate over foreign investment, economic nationalism and the diplomatic strain that xenophobic attacks have repeatedly placed on relations between Africa’s two largest economies.
