Nigerian ruling party seeks to muscle SA businesses out of economy

Nigerian ruling party seeks to muscle SA businesses out of economy

- The ruling party in Nigeria has called on the state to allow for South African companies to be nationalised

- This comes in retaliation for the xenophobic attacks on their citizens in the country

- With the government in the region calling for sanctions and withdrawing their people, the situation seems set to escalate

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The All Progressives Congress party in Nigeria wants to take over South African-owned businesses operating within their borders.

Chairman Adams Oshiomhole recently released a broadcast, adamant that the endeavour should go forward:

"Whereas South Africans continue to benefit from the Nigerian business environment and repatriating billions of dollars, the South African authorities appear jealous of the menial jobs which some Nigerians and other black people are involved in. It is worth it for the Nigerian government to take steps to take over the remaining shares of MTN that are owned by South Africans."

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READ ALSO: Malema on xenophobia: "We are sorry. We are ashamed. Forgive us"

This move would effectively see SA elbowed out of one of the largest emerging markets in Africa, with the Nigerian government warning that sanctions could be on the cards, reported.

Fin24 writes that the ruling party had also recommended boycotting products from SA, calling for South African Airways' landing rights to be revoked.

This comes in the wake of xenophobic attacks in the country, which had seen an uprising against Shoprite, MTN and other locally-owned interests.

The unrest had been sparked by the death of a taxi driver, with citizens protesting the crime they claim follows foreign nationals into Mzansi.

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