Investment: Nigeria must defend economic sovereignty, fend off foreign pressure – Coalition

A coalition of Nigerian youth organizations has warned the federal government against giving in to what it described as growing international pressure to preserve a foreign company’s dominance of Nigeria’s airtime lending market.

In a statement released on Monday, the groups’ coordinator, Kazeem Akinlolu, said recent efforts to internationalize the dispute represent an attempt to influence national regulatory decisions that should remain the sole responsibility of Nigerian institutions.

Akinlolu said: “Nigeria is a sovereign nation. Decisions on competition, consumer protection and market regulation must be made in Abuja, not in foreign capitals or international lobbying circles,” the coalition said.

According to the organisations, while Nigeria welcomes foreign investments, investors must respect the country’s laws, regulators and democratic institutions.

“No investor should expect special treatment or seek to bypass Nigeria’s regulatory process simply because they have international influence.”

The coalition argued that allowing external pressure to determine the outcome of trade disputes would set a dangerous precedent that could undermine investor confidence in Nigeria’s own institutions.

“If multinationals manage to circumvent our regulators by escalating trade disagreements internationally, the authority of our institutions will gradually erode.”

Youth groups say the issue goes beyond one company or industry and is about Nigeria’s ability to independently determine the rules that govern its digital economy.

“Countries that attract sustainable investment do so because their institutions are respected. Investors know they must operate within national laws, not reshape them through external pressure.”

The coalition urged the federal government and regulators to stand firm, insisting that Nigeria’s economic future should be determined by Nigerian laws, Nigerian regulators and national interest.

“Our sovereignty is non-negotiable. Foreign investments are welcome, but they must operate within Nigeria’s rules and respect Nigerian institutions.”