Business
Xenophobic Attacks: Nigerians Lose N48m In S’Africa
The Nigerian Union in South Africa has said that Nigerians lost more than 4.6 million Rand (N84 million) to xenophobic attacks.
The President of Nigerian Union in South Africa, Mr Ikechukwu Anyene, told newsmen on phone from Pretoria, South Africa, that the losses were initially put at 1.2 million Rand ( N21 million).
“The Nigerian Union in South Africa has completed documentation of the losses suffered by Nigerians to xenophobic attacks.
“ Nigerians lost more than 4.6 million Rand or N84 million during the attacks.
“A mechanic workshop owned by a Nigerian in Jeppes, near Johannesburg, for example was completely burnt with 11 cars inside it.
“The loss is put at more than one million Rand or N20 million,” he said.
Anyene said the Union had compiled the losses and given the list to Nigeria’s Consul-General to South Africa.
He said Nigerian victims of the attacks needed urgent assistance to re-settle because many had lost their means of livelihood.
“The Consul-General has travelled to Nigeria and we appeal to the Federal Government to do something urgent to assist Nigerians affected by the attacks.
“We have made representations to the Federal government.
“We are also hoping that working with the South African government, there will be a way to compensate the affected Nigerians so as to enable them go back to their normal lives.
“The tension is less now. The South African government has come out in full force to check the attacks,” he said.
Anyene said the losses suffered by Nigerians were in the form of vandalised mechanic workshops, burnt mechanic workshops, looted shops as well as stolen and burnt cars.
“More than 50 Nigerians were displaced during the attacks. The Union has assisted them to return home.
“The Union is also planning to assist a family to move to a new accommodation because the present home is not safe,” he said.
He said the Union carried out a proper documentation of the attacks, with pictures and other relevant documents stored to capture the incidents.
“Payment of tuition fees for undergraduate/postgraduate studies shall be subject to a maximum limit of $25,000.00 per semester,” the Manual states.
The expansion of international card limits also reflects growing confidence among lenders that foreign exchange liquidity has improved enough to support retail dollar transactions.
Speaking recently at the BusinessDay 14th Annual CEO Forum in Lagos, CBN Olayemi Cardoso, governor of the CBN said buying and selling activities now increasingly determine outcomes in the foreign exchange market, unlike in the past when market participants relied heavily on routine Central Bank interventions.
According to Cardoso, Nigeria’s net foreign exchange reserves have risen from just over $3 billion at the start of the reform programme to more than $40 billion, while gross reserves have climbed to about $52 billion, providing stronger confidence for investors and enabling the Central Bank to reserve interventions for periods of market stress rather than day-to-day liquidity management.
The restoration and expansion of international naira card spending limits are increasingly being seen as one of the clearest signs that the benefits of the CBN’s foreign exchange reforms are beginning to reach households, students and businesses making legitimate cross-border payments.
The Secretary-General and Chief Executive Officer, WEC, Dr Angela Wilkinson, disclosed this in a statement, last Thursday.
“Nigeria’s participation comes at a pivotal time as the country seeks to expand energy access, strengthen energy security, accelerate gas development and mobilise the capital required for industrialisation and sustainable economic growth.
“WEC Nigeria will convene leaders from across the energy ecosystem, apply the WEC’s globally recognised Energy Trilemma framework to Nigeria’s unique context, and promote evidence-based dialogue, practical collaboration and informed policymaking.
“It will also ensure that Nigerian and broader African perspectives contribute meaningfully to global energy conversations,” she said.
Wilkinson expressed confidence that Nigeria would play a significant leadership role at the World Energy Congress scheduled for Riyadh in April 2027 and beyond.
The statement also quoted the Chairman of WEC Nigeria, Isa, as describing the country’s participation as an opportunity to deepen national and African leadership within the global energy community through practical solutions tailored to regional development priorities.
He said the platform would promote collaboration across sectors and attract sustainable investments into Nigeria’s energy sector.
The Chief Executive Officer of WEC Nigeria, Wunti, was quoted in the statement as saying that the council would connect leadership, evidence and investment to build a secure, affordable and sustainable energy system.
“This system will be capable of driving economic growth and shared prosperity.”
According to him, the platform will also connect Nigerian institutions and businesses with international knowledge, technology, partnerships and investment opportunities through the World Energy Council’s global network.
Recall that WEC, founded in 1923, is the world’s oldest independent and impartial community of energy leaders and practitioners, advancing informed, collaborative and practical action across the global energy system.