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By Lawrence Agbo
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 over the recurring xenophobic attacks in South Africa.
Speaking during an interview on Arise News, the lawmaker representing Edo North Senatorial District said the Federal Government should take steps to end South African control of MTN and ensure the company is fully owned by Nigerians.
Oshiomhole argued that while MTN is already listed on the Nigerian Stock Exchange and many Nigerians own shares in the company, the South African majority control should be removed.
“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.
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The former Edo State governor said the move became necessary in light of repeated xenophobic attacks against Nigerians and other Africans living in South Africa.
He referenced remarks made during the campaign of South African President Cyril Ramaphosa, claiming that Ramaphosa, described as a major shareholder in MTN, had argued that foreigners were taking jobs meant for South Africans.
According to Oshiomhole, South Africa’s high unemployment rate has fueled resentment, with some citizens directing their frustration toward other Africans, including Nigerians.
“Now South Africa has high unemployment, and some have transferred aggression against other Africans. Life is more important. Nigeria should not look for investors who choose wealth over human life,” he added.
He maintained that protecting Nigerian citizens should take precedence over preserving foreign business interests, stressing that no foreign investor should be equated with the value of a Nigerian life.
