A coalition of Nigerian youth organisations has warned the federal government against yielding to what it described as growing international pressure to preserve the dominance of a foreign company in Nigeria’s airtime lending market.
In aa statement released Monday, Convener of the groups, Kazeem Akinlolu, said recent efforts to internationalise the dispute represent an attempt to influence domestic regulatory decisions that should remain the exclusive responsibility of Nigerian institutions.
Akinlolu said: “Nigeria is a sovereign nation. Decisions about 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 investment, investors must respect the country’s laws, regulators and democratic institutions.
“No investor should expect special treatment or seek to override Nigeria’s regulatory process simply because it has international influence.”
The coalition argued that allowing external pressure to determine the outcome of commercial disputes would create a dangerous precedent capable of weakening investor confidence in Nigeria’s own institutions.
“If multinational companies can bypass our regulators by escalating commercial disagreements internationally, then the authority of our institutions is gradually eroded.”
The youth groups said the issue extends beyond one company or one sector and concerns Nigeria’s ability to independently determine the rules governing its digital economy.
“Countries that attract sustainable investment do so because their institutions are respected. Investors come knowing they must operate within domestic laws—not reshape them through external pressure.”
The coalition urged the Federal Government and regulators to remain firm, insisting that Nigeria’s economic future should be determined by Nigerian laws, Nigerian regulators and the national interest.
“Our sovereignty is not negotiable. Foreign investment is welcome, but it must operate within Nigeria’s rules and respect Nigeria’s institutions.”