Senator Adams Oshiomhole has called for Nigerian ownership of telecommunications giant MTN Group, insisting that no foreign investment should be placed above the lives of Nigerians following recurring xenophobic attacks in South Africa.
Speaking during an interview with reporters on Tuesday, the lawmaker representing Edo North Senatorial District urged the federal government to take steps aimed at ending South African control of MTN and ensuring greater Nigerian ownership of the company.
Sen. Oshiomhole argued that although MTN is listed on the Nigerian Stock Exchange and Nigerians already hold shares in the company, its majority control should no longer remain in South African hands.
“I’m aware that MTN is quoted on the stock exchange. Nigerian shareholders can hold on to their shares, but we should take away South African control.
“We should re-privatise it so Nigerians can take it over, and there would be no repatriation of funds to South Africa,” he said.
He said the proposal has become necessary in light of repeated xenophobic attacks targeting Nigerians and other Africans living in South Africa.
Key Highlights:
- Adams Oshiomhole called for greater Nigerian ownership of MTN Group following recurring xenophobic attacks against Nigerians in South Africa.
- The senator urged the Federal Government to end South African control of MTN and allow Nigerians to take over majority ownership of the telecom company.
- Oshiomhole argued that while Nigerians already own shares in MTN through the stock exchange, profits should no longer be repatriated to South Africa.
- He linked the proposal to rising anti-foreigner sentiments and unemployment in South Africa, which he said have fueled attacks on Nigerians and other Africans.
- The former Edo State governor insisted that the protection of Nigerian lives should take priority over foreign investment and business interests.
The former Edo State governor referenced remarks attributed to South African President Cyril Ramaphosa, alleging that he had previously made comments about foreigners taking jobs meant for South Africans.
According to Sen. Oshiomhole, rising unemployment in South Africa has fueled resentment, which has in some cases been directed at other Africans.
“Now South Africa has high unemployment, and some have transferred aggression against other Africans.
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“Life is more important. Nigeria should not look for investors who choose wealth over human life,” he added.
He maintained that the protection of Nigerian citizens should take priority over foreign business interests, stressing that no investor should be valued above the life of a Nigerian.
