BY SOLOMON OKPO
A former Edo State governor and current senator, Adams Oshiomhole, has stirred fresh debate over foreign corporate dominance in Nigeria’s telecom sector, calling for the nationalization of MTN.
In a strongly worded statement, Oshiomhole urged the Nigerian Senate to take a decisive stand against what he described as the continuous outflow of wealth from Nigeria to foreign-owned enterprises. He specifically accused MTN, headquartered in South Africa, of repatriating millions of dollars daily from Nigeria.
“It is time to reciprocate,” the senator declared, insisting that the Senate should adopt a firm position by revoking MTN’s operating license and transferring its assets to a Nigerian-owned company.
The remarks come amid growing scrutiny of multinational corporations operating in Nigeria, particularly in sectors deemed critical to national security and economic sovereignty. Oshiomhole argued that allowing such companies unchecked control undermines local capacity and drains national resources.
His proposal, however, is likely to generate mixed reactions among policymakers, investors, and industry stakeholders. While some may view it as a bold step toward economic nationalism, others warn that such a move could damage investor confidence and strain diplomatic and trade relations.
As the debate unfolds, attention now shifts to the National Assembly and regulatory authorities to determine whether the call for nationalization will gain traction or remain a political statement in an increasingly sensitive economic climate.
