The National Association of Nigerian Traders (NANTS), says there is the need for an emergency summit of the African Head of States to address the ongoing xenophobic attacks in South Africa.
Mr Ken Ukaoha, NANTS President said in Abuja the 55 member countries of AU should tackle the matter.
Ukaoha expressed regrets that the South African government and African leaders were so docile on the matter which had claimed lives and destroyed businesses of Nigerians and Africans in South Africa.
Ukaoha also cautioned Nigerians against retaliation because majority of the shares in the South African owned companies in Nigeria were owned by Nigerians.
“People have thought of retaliating by looting MTN, DSTV and Shoprite outfits in Nigeria, I have also partially investigated and discovered that majority of the shares of these companies are owned by Nigerians.
“One of the things that is beating the negative music for South Africans is that if we go ahead to destroy these companies we are only destroying Nigerian investments,’’ he said.
The trade and economic development law advocate said that it was appalling that this could come from South Africa, with the largest trading economy in Africa commanding about 23.5 per cent of the entire intra-African trade.
He said it was quite unfortunate that the South African government was also losing the capacity to handle the matter thereby, reducing the credibility of a country once revered and respected among the committee of nations.
The expert said that the continued attacks had portrayed South Africa as a nation in the world that could not receive Foreign Direct Investment (FDIs).
“This is because if the country is destroying investments from African countries, then it tells a lot on the capacity to uphold the tenet of African integration.
“It is pitiable that we have not started implementing the African Continental Free Trade Area (AfCFTA) agreement, and yet we are seeing this sign, it is a big lesson for Africa and for the AU.
“Signing the agreement is one thing, implementing the agreement is another thing, the taste of the pudding is in the eating.
“It is a disgrace to Africa that fellow Africans will be slaughtered, businesses and investments belonging to Africans smashed and destroyed.
“This should also serve as a great lesson to Nigerians that a time will come when we shall say goodnight to “Father Christmas Attitude,’’ he said.
He, however, decried the irritable characters being exhibited on social media, adding that it was quite sad that South Africa had descended to this level leaving Nelson Mandela dreams shattered.
“Look at what we have done in support to countries like Sierra Leone, Cote d’ Ivoire, Liberia, Mali, Gambia and other countries that have had one turmoil or the other, and by the end of the day, we are paid with nothing.
“We need to keep tweaking our foreign, diplomacy policy so that we look inward a bit more toward the Nigerian shield.’’