Former Edo State governor and senator representing Edo North, Adams Oshiomhole, has defended his controversial call for the nationalisation of South African companies operating in Nigeria, insisting that the lives of Nigerians are more valuable than foreign investments.
Speaking during an interview on Arise News, Oshiomhole argued that Nigeria must take stronger economic measures against South African interests following renewed 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 lawmaker further suggested that Nigeria should restructure the ownership of affected companies to place them fully in Nigerian hands.
“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 also extended the proposal to other South African-linked financial institutions operating in Nigeria, insisting that repeated attacks on Nigerians abroad cannot continue without consequences.
He claimed that South African President Cyril Ramaphosa only publicly condemned xenophobic attacks after Nigeria mounted diplomatic and economic pressure.
Responding to fears that such drastic measures could scare away investors, the senator maintained that human lives must come first.
“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 economic implications of nationalisation, Oshiomhole doubled down on his position.
“Is human economy, weight, or foreign investor, foreign dollar more important than the life of a Nigerian?” he asked.
The senator lamented what he described as repeated attacks on Nigerians in South Africa 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. Third time, they kill Nigerians, they got away with it,” he said.
Recalling past diplomatic engagements between both countries, Oshiomhole accused South Africa of failing to honour agreements reached under the administration of former President Muhammadu Buhari.
“Under Buhari, there was an agreement. They broke it. They are killing Nigerians. Nobody is in prison for murder, extrajudicial murder,” he said.
He further questioned why foreign investment should be prioritised over the safety and dignity of Nigerian citizens.
“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 asked.
South Africa has recently witnessed fresh protests and attacks targeting foreign nationals in parts of Durban, Cape Town, East London, and KwaZulu-Natal.
Reacting to the violence, President Ramaphosa condemned the attacks and accused perpetrators of exploiting social and economic frustrations.
“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.
Meanwhile, the Nigerians in Diaspora Commission (NiDCOM) has advised Nigerians in South Africa to remain vigilant and avoid confrontations, while confirming that the Nigerian Consulate in Johannesburg is engaging local authorities over the attacks.
The commission also disclosed that the Minister of State for Foreign Affairs is already in discussions with South African authorities as diplomatic efforts intensify.
