The Nigerian Senate has formally rejected demands to nationalize major South African companies operating within the country, such as telecom giant MTN and pay-TV provider DStv. The proposal arose as a suggested reprisal for a fresh wave of xenophobic violence targeted at Nigerians living in South Africa. While the upper legislative chamber flatly declined the call for economic retaliation, it strongly condemned the hostility and urged the Federal Government to step up diplomatic efforts to safeguard Nigerian citizens abroad.
The intense debate followed a motion titled “Motion on the Need to Halt the Recurring Xenophobic Attacks and Intimidation Against Nigerians and Other African Nationals in the Republic of South Africa,” sponsored by Senator Asuquo Ekpenyong. The motion was sparked by recent anti-foreigner hostilities that flared up after a June 30, 2026 deadline issued by South African vigilante groups ordering foreign nationals to vacate the country expired.
Calls for Retaliation and Profit Seizure
During the fiery plenary session, some lawmakers pushed for aggressive economic countermeasures. Senator Eshilokun Wasiu openly advocated for the nationalization of South African assets in Nigeria. Building on this stance, Senator Adams Oshiomhole proposed an amendment that would allow the Nigerian government to seize the profits of South African multinational corporations to compensate victims of the attacks, should the South African government refuse to pay damages.
Oshiomhole voiced strong concerns over comments reportedly made by a South African government official indicating that compensation would not be provided to affected foreign nationals. “We cannot allow Nigerians to suffer such devastating losses while South African businesses continue to thrive and generate profits on our soil,” Oshiomhole argued, urging that local profits from these firms be redirected to aid displaced families and business owners who lost everything in the violence.
A Call for Diplomatic Caution
However, the Deputy President of the Senate, Senator Barau Jibrin, who presided over the session, cautioned his colleagues against making rash decisions based on unverified reports and social media narratives. Jibrin clarified that the South African minister’s comments regarding compensation had been misunderstood, explaining that the refusal of compensation applied specifically to individuals occupying illegal settlements without land titles, whereas those with valid property rights would maintain their claims.
While Jibrin acknowledged that this explanation did not excuse the South African government’s failure to protect innocent lives, he emphasized the importance of maintaining diplomatic decorum and letting formal investigations play out. “We are fellow Africans,” Jibrin remarked, advocating for cooperation rather than escalating economic hostilities.
Two-Week Deadline for Investigation
Despite Jibrin’s appeal for patience, Senator Oshiomhole pushed back, warning that delays could put more Nigerian lives at risk in South Africa. In response to the urgency of the situation, Jibrin shortened the investigation timeline, instructing the Senate Committee on Foreign Affairs to fast-track its probe and present a comprehensive report within two weeks.
As the diplomatic tension simmered, the Senate’s decision underscores a delicate balancing act: protecting Nigerian citizens abroad while preserving critical foreign investment and economic stability at home.