The founder and Chief Executive Officer of Air Peace, Allen Onyema, has urged Nigerians to stop investing in South Africa and instead channel their investments toward Nigeria in response to renewed xenophobic attacks against foreign nationals, including Nigerians.
Speaking during an interview on ARISE News, Onyema argued that economic measures rather than violence should be used to express dissatisfaction with the treatment of Nigerians in South Africa.
Onyema advocates economic retaliation
According to Onyema, Nigerians should avoid making new investments in South Africa and focus on supporting businesses and economic development within Nigeria.
He emphasized that his position does not involve retaliation against South African businesses operating in Nigeria, noting that such actions could negatively affect innocent investors and employees.
Instead, he called for a peaceful economic response that would encourage Nigerians to prioritize domestic investment opportunities.
Renewed xenophobic concerns
The comments come amid reports of renewed xenophobic attacks in South Africa affecting foreign nationals, including Nigerian citizens.
Xenophobic violence has periodically strained diplomatic and economic relations between Nigeria and South Africa over the years, with previous incidents leading to public outrage, diplomatic engagements, and calls for stronger protections for foreign residents.
The latest wave of attacks has reportedly heightened concerns about the safety of Nigerians living and working in South Africa.
Nigerian government response
The situation has prompted the Nigerian government to begin evacuating some Nigerian citizens from South Africa as security concerns intensified.
The move is aimed at protecting affected Nigerians and providing assistance to those who wish to return home amid the unrest.
Economic implications
South Africa remains one of Africa’s largest economies and has historically attracted investments from businesses and individuals across the continent, including Nigerians.
An organized reduction in Nigerian investment activity in South Africa could have implications for cross-border business relations, although the overall impact would depend on the scale of participation.
At the same time, Onyema’s comments highlight growing calls for increased investment within Nigeria as policymakers seek to stimulate domestic economic growth, job creation, and industrial development.
Broader context
The recurring issue of xenophobic attacks continues to pose challenges for African economic integration and the goals of initiatives such as the African Continental Free Trade Area, which seeks to promote greater movement of goods, services, businesses, and people across the continent.
Analysts note that sustained economic cooperation within Africa depends not only on trade agreements but also on ensuring the safety and protection of foreign nationals living and working across member countries.
