gabicon:
We need to be logical with our accretion, investment they say is a coward, the slightest perception of threat it shuts down. South Africans are not the only investors in Nigeria, we have other nationalities if we hostile take over SA business don't we think that other investors will get afraid for their investment? This will weaken investors confidence, nationalizing SA assets is out of the picture. That is not to say we can't impose sanctions on their goods and services like president Trump is doing to china.

If you impose sanctions on their goods, Nigerians will be the ones to suffer for it and ultimately pay the price so nationalization is the better option.

King44:
Nationalize and give it to private firms

1.You don't understand what nationalization means then...nationalization in essence means the government takes over the running of the company or asset completely.

2.What you are proposing is the government takes over the assets and sells it again to a private company. Re-privatizaiton

3[b]And here is the thing...we are now under a democracy. So...government taking over say Shoprite is going to provoke a case in the courts ...which would lead to the government paying billions to Shoprite South Africa for the privilege of nationalising the company(which in these hard times is going to be politcally controverisal).This isn't the days of Army rule when the Army government was the law...

Indeed if nationalization was so easy, why hasn't government renationalized the power sector? (Answer...it would cost them billions of naira. Hundreds of billions of naira[/b]

4.Plus, investors are not going to come to a country where your assets can just be taken over because politics. Would you do business in a country where someone can come and take over your business in the country because 'politcs? (And the truth is, we need the investors....because jobs).

And this fool called FFK thinks Nija can win South Africa in the game of war abi?...I laugh like chiken

Kanade21:
No, it should not happen for the following reasons

1.Governments past and present have a poor track record of managing businesses.

2.It drives away investors. Which investor is going to come and invest in a country where his or her business would be taken over by the government without so much as an 'if you please'

3.It's going to cost the government billions in legal fees. (See the recent government study on the billions it would cost just to buy back power distribution companies without ending in the courts.).

4.Massive job losses.

Sorry, but nationalization does not work these days. Maybe back in the 1970's when the economy was less global. Not now.

ok o the grammarian what is your our suggestion?

shegra58:
ok o the grammarian what is your our suggestion?

You may not like it...but

Stay calm, don't retaliate.

Thing is, we need investment in our economy. Our economy is badly run as it is, and the last thing we need is measures like what FFK is proposing which would drive off the limited foreign investment we have here.

Nationalization does not work. The UK nationalized their car industry back in the day. By the 1990's they were selling most of their main indigenous car brands to the Chinese, and other Europeans. Today most car manufacturing in the UK is done by foreign car manufacturers.

solmusdesigns:


then you must be ignorant of the whole situation, to even take the words of P & ID scammers for it, even when it was a shell company that coninved with PDP to swindle you and me just like halliburton... yeah Buhari's FG failed to show up or pursue the case at some points but still doesnt exonorate Evil cursed PDP thieves

Oga nobody swindled anybody
Oil coys and fg fumbled d deal
Stop all these pdp 16 years nonsense and realise apc are a joke

fg should nationalise all these south african businesses in nigeria to dangote because he has a track record of success.
who be south africa?
they cant do anything to us if we take this action.
if government fail to take action we would take action for them.

[quote author=freelansa post=82041940]Former Minister of Aviation, Femi Fani-Kayode, FFK, has called for the nationalization of all South African companies in Nigeria.

This he said in reaction to the renewed xenophobic attacks on Nigerians in South Africa which started on Sunday, September 8, 2019.

In a series of tweets, Femi Fani-Kayode wrote:

Taking over SA companies is not the answer. Nigerian are bad managers of companies. Senator John Mark and you was once the TELE Communication and Aviation Ministers respectively, both of you did see fit to expand in your field. The presidency knowns what to do because the attack is state sponsored back up South African Govt. Comfirmed their clergy men. impossed sanctions, throu AU, UN ETC

FarahAideed:
Very stupid thought process ..Never knew FFK was a stark idiot

to call you an idiot is an insult to i.diots

engrchykae:
to call you an idiot is an insult to i.diots

Abeg go and wash your tokunboh Toyota and go sleep

gabbasin:
FFK is behaving like an illiterate that thinks governance is about taking irrational decisions, and this guy is once a minister in Nigeria, chase out South Africans? And our armed forces should be called to war against SA? What happens to diplomacy first

shut the crap you coward.if not that an idiot is our president right now,abacha and obasanjo even the seeminly weak jonathan would have taken a strong stance against south africa.
to this gang or mafia in abuja,as long as they are safe,nigeria can burn after all na soft targets we be.

LZAA:

Oga nobody swindled anybody
Oil coys and fg fumbled d deal
Stop all these pdp 16 years nonsense and realise apc are a joke

i will keep educating you on PDP misdeeds including this, PID wanted all our gas to them for just $40million , $40 million swindle from TY danjuma's company into an ofshore virgin british registered phony company account, and they intend to sign of our gas without making the contract open at the federal executive council even when yaradua was incapacitated...

will you pray your own personal company or business be ran like that? do you sell your billion dollars asset for few millions.. oga think and think good

iReddington:
How a crass person like this many was ever a minister is a disgrace to this country, he's always so ignorant about important issues and tries to cover it up with hate and bitterness.

you should also worry how a drug baron,a coup plotter and a lying machine made it to aso rock.

Kanade21:
No, it should not happen for the following reasons

1.Governments past and present have a poor track record of managing businesses.

2.It drives away investors. Which investor is going to come and invest in a country where his or her business would be taken over by the government without so much as an 'if you please'

3.It's going to cost the government billions in legal fees. (See the recent government study on the billions it would cost just to buy back power distribution companies without ending in the courts.).

4.Massive job losses.

Sorry, but nationalization does not work these days. Maybe back in the 1970's when the economy was less global. Not now.

So how do we stop this needless flow of Nigerian blood on the streets of Jo'burg, S A? I definitely don't think "massive job losses" equates massive loss of lives! Nigeria must do everything and all means possible to hurt south Africa and avenge the barbaric killings of Nigerians.

As it stands now,Nigerians have every right to kill any south African and destroy their businesses in Nigeria. This is not just the time to show any sign of weakness . we must strike first and damn the consequences of it.

Those black cave dwellers of south Africa must be severely dealt with. They are unreasonable savages and born slaves.

This is war time between Nigeria and S A . All is therefore fair and we can't afford to blink first !

Sunofgod:
Govt to take over the businesses?

They would all fail within a week!

It's better the businesses fail than to allow the South African pigs harnessing from our economy!

OROSUNBOLB:


So how do we stop this needless flow of Nigerian blood on the streets of Jo'burg, S A? I definitely don't think "massive job losses" equates massive loss of lives! Nigeria must do everything and all means possible to hurt south Africa and avenge the barbaric killings of Nigerians.

As it stands now Nigerians have every right to kill any south African and destroy their businesses in Nigeria. This is not just the time to show any sign of weakness . we must strike first and damn the consequences of it.

Those black cave dwellers of south Africa must be severely dealt with. They are unreasonable savages and born slaves.

This is war time between Nigeria and S A . All is therefore fair and we can't afford to blink first !

Eventually, the SA government is going to put a stop to the violence.

Not because they like Nigerians , or other Africans (there is some xenophobic attitudes among the ruling elite as well)...but because eventually, it is going to drive away investment from Europe, China and the US.

The SA government has no choice. It must control the xenophobia...or their economy will suffer.

(The UK is not as racist as it was 40 years ago because foreigners to a large extent drive their economy. Same for the US).

Also, Nigeria has more to lose than SA. If we start nationalizing SA companies...there would be 1) the perception that Nigeria is not ready for investment...driving off investors. 2) Nationalization of such companies leads to their destruction, and by extension job losses.

We nationalized large segments of our economy in the 1970's...which worked well enough, until oil prices dropped in 1982. By 1989...the economic chickens of ruin and ruination had come home to roost.

Plus, the economy is now global. Nationalization nowadays is a nice way of unplugging from the global economy. Not good.

It is the same them who will start shouting that Govt's action is chasing away foreign investors

Sunofgod:
Govt to take over the businesses?

They would all fail within a week!

drips8:
White South Africans watching black South Africans kill other black Africans

are they really being killed? That's what you should ask yourself first

executive12:


Why are you insulting him? Do you support the killing of foreigners in SA? Stop being a fool.

are they being killed?

Cocaine is a hell of a drug

freelansa:
Former Minister of Aviation, Femi Fani-Kayode, FFK, has called for the nationalization of all South African companies in Nigeria.

This he said in reaction to the renewed xenophobic attacks on Nigerians in South Africa which started on Sunday, September 8, 2019.

In a series of tweets, Femi Fani-Kayode wrote:

https://wotzup.ng/why-nigeria-should-nationalize-all-south-african-companies-ffk/

If Nigeria dare do that,it will regret that for the rest of it's country if it exist as a country after that. Most of those companies have large number of American,British,German,Singaporean,Hong Kong,etc share holders (from pension funds,hedge funds,banks to trusts of wealthy families). Take Shoprite for example,Norway Pension Fund hold a double digits stake there. Americans and British make up over 50% of shareholders. Game is own by Massmart a south african company,which Waltmart bought a controlling stake. MTN has amongs it's shareholder,some of the most powerful men on earth. SABMiller merged with Brazillian-Belgium AB Inbev,giving old AB InBev controlling stake in the 'new' company. DSTv is owned by world tech investment giant Naspers a South African company,with top contacts in US and Britain...so expect foreign nigeria accounts to be frezzed and assets to be attached or worse sanctions from US and Britain.

oluwasegun007:
Am looking forward to the day I'll be proud to be a nigerian...

Sadly, it could take a 1000 years...

SayginSA:


If Nigeria dare do that,it will regret that for the rest of it's country if it exist as a country after that. Most of those companies have large number of American,British,German,Singaporean,Hong Kong,etc share holders (from pension funds,hedge funds,banks to trusts of wealthy families). Take Shoprite for example,Norway Pension Fund hold a double digits stake there. Americans and British make up over 50% of shareholders. Game is own by Massmart a south african company,which Waltmart bought a controlling stake. MTN has amongs it's shareholder,some of the most powerful men on earth. SABMiller merged with Brazillian-Belgium AB Inbev,giving old AB InBev controlling stake in the 'new' company. DSTv is owned by world tech investment giant Naspers a South African company,with top contacts in US and Britain...so expect foreign nigeria accounts to be frezzed and assets to be attached or worse sanctions from US and Britain.

A lot of peeps are just too emotional to dig deeper and find out the truth.
You know the truth! Kudos

Of all solutions, nationalization of assets is what you could muster. Didnt you read already sir, that its not enforceable due to the bilateral agreement between FG and SA govt? Na wa o!

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FFK is an agent of chaos and stupidity.
No reasonable person takes him seriously.
His advice would destroy Nigeria's economy for decades.
Having stolen billions of Naira, the crackhead will simply relocate to
another country and continue his irrational tirades.

SayginSA:


If Nigeria dare do that,it will regret that for the rest of it's country if it exist as a country after that. Most of those companies have large number of American,British,German,Singaporean,Hong Kong,etc share holders (from pension funds,hedge funds,banks to trusts of wealthy families). Take Shoprite for example,Norway Pension Fund hold a double digits stake there. Americans and British make up over 50% of shareholders. Game is own by Massmart a south african company,which Waltmart bought a controlling stake. MTN has amongs it's shareholder,some of the most powerful men on earth. SABMiller merged with Brazillian-Belgium AB Inbev,giving old AB InBev controlling stake in the 'new' company. DSTv is owned by world tech investment giant Naspers a South African company,with top contacts in US and Britain...so expect foreign nigeria accounts to be frezzed and assets to be attached or worse sanctions from US and Britain.

FFK has never made any sense.
If he is not stoking ethnic sentiment, he is busy offering destructive ideas.
We can excuse the semi-literate Nigerians, how can a former minister reason like tout?

Luvlyna:




Disastrous for speaking against SA menace?? I think you're more disastrous and less a compatriot for this comment

He is right that FFK is a disaster.
The world economy does not run on emotion.

FuckThaMod:

Although Some things are not just that easy to do but We really need to do something drastic that will shake even the common south african man

If we burn mtn shoprite stanbic ibtc bank, it's Nigerians that will suffer it

There is nothing we can do that will shake the common SA man.
They hardly travel outside the south enclave and those poor looters have nothing to lose as they
own little to nothing of the SA economy.

gabicon:
We need to be logical with our accretion, investment they say is a coward, the slightest perception of threat it shuts down. South Africans are not the only investors in Nigeria, we have other nationalities if we hostile take over SA business don't we think that other investors will get afraid for their investment? This will weaken investors confidence, nationalizing SA assets is out of the picture. That is not to say we can't impose sanctions on their goods and services like president Trump is doing to china.

There is nothing we can do that will hurt them more than it hurt us.

byrron:


Nigerian politicians have proven to have answer's to questions like this.

They nationalize it first and then privatise it (undervalue it and sell it out for cheap) and then repurchase it through their front's and then run it well.

Do you have examples of companies that they run well?

Well, it won't take very long for those companies to die. Nigeria cannot manage anything!

Wallade:


All that the Nigerian government would have to do upon nationalization of those assets is:

For companies (Multichoice) unlisted on Nigerian Stock Exchange, government can commence the process to list them on Stock Exchange.

For those listed like StanbicIBTC and MTN Nigeria, government can simply sell the shares, at Forced Sale Value, of South African interests in those companies to the Nigerian public and majority shares to any interested Nigerian organization with sound management track record and technical expertise.

That will sustain the companies sound management and ease the transition. The proceeds of the sale of shares can be paid to the initial owners.

And we will live happily after ever?