Xenophobia: Nationalize MTN, Other South African Businesses: APC Tell Buhari

Muhammadu Buhari
President of Nigeria, Muhammadu Buhari

The ruling All Progressive Congress(APC) has called on President Muhammadu Buhari to go on the offensive against South African companies in Nigeria following the xenophobic attack on Nigerians living in South Africa.

Speaking through its National Chairman, Adams Oshiomole, the Party charged Buhari to go ahead and acquire all MTN’s share in the company and nationalize the company.

The Party also advised that the president should go-ahead to acquire other South African companies such as DSTV, Standard Chartered Bank, Stanbic IBTC, South African Airways and so on.

His words:

“South African companies are making billions of dollars from the Nigerian economy year in year out and repatriate the same out of Nigeria. MTN was recently in the stock market and some Nigerians bought shares in MTN but in a moment like this and in order to send a very strong message to South African authorities and the South African people, we call on the Nigerian government to take steps to take over the remaining shares of MTN that are owned by South Africa so that MTN becomes fully Nigeria owned.

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“We should reflect why we should continue to allow DSTV to repatriate millions of dollars to South Africa arising from their activities in Nigeria. We have reviewed all of those things that give South Africans monopoly such that they make money with very little value addition. “To show that we mean business and in practical steps, South African Airways, their landing right in Nigeria should be revoked until these issues are sorted out.

“Many Nigerians believe that Shoprite is owned by South Africans; they are repatriating money purely from the franchise, both the capital with which these shopping malls are built are Nigeria’s, the shop owners are Nigerians. This imposes an obligation on the government to review any agreement that gives South Africans the right to begin to develop a monopoly in our commercial lives. “We also know that Standard Chartered Bank and Stanbic Bank, are all South African Banks, Nigerians may have more shares there if any. It is time to ask them to wind up so that Nigerian Banks will take advantage of their departure and expand their operations. We have enough to save by transferring these businesses to Nigerians”.