A

[Sizwe SikaMusi @SizweLo]

After decades of telling poor countries to privatise everything, Britain is expropriating and nationalising private property. In 2026.

59 years ago, Britain nationalised all its steel companies because it considered steel to be a strategic national industry and believed state planning would modernise production.

A decade later, in the late 1970s, the state-owned British Steel Company suffered huge losses due to a global steel oversupply, foreign competition, its ageing factories and low productivity.

In 1979, Margaret Thatcher became Prime Minister with a policy of mass privatisation and smaller state ownership. Under Thatcher’s regime, strategic industries were expected to become profitable. Sort of like how all parents expect their children to be profitable.

To institute “efficiency”, between 1980–1987 the British government closed down many of the publicly-owned steel plants. Tens of thousands of jobs were lost as production was concentrated in the more efficient sites, which reduced costs dramatically. This was done to prepare the state company for sale.

On 3 December 1987, the British government formally announced its intention to privatise British Steel and the reason was that the plant closures and massive job cuts had returned the company to profit and the government insisted private ownership would improve competitiveness.

In 1988, the British Steel Act passed to create a legal framework for privatisation, which culminated in British Steel plc being listed on London Stock Exchange. Privatisation was completed and the government no longer owned the company.

In 1999, the privately-owned British Steel merged with Dutch company Koninklijke Hoogovens, to form Corus Group. This was meant to consolidate the company into Europe and to compete globally.
In 2007, Corus was sold to Tata Steel and Britain celebrated this “new foreign investment”.

However, in 2016 to 2019, the fully private British steel industry experienced another crisis due to high UK electricity prices, which incidentally were a result of privatisation themselves, alongside cheap imports, Brexit and weak demand.

In 2019 British Steel enters insolvency after it could not finance operations. The capitalist British government was now faced with a dilemma. Would it allow the invisible hand of the free market to take its course and kill the non-performing British Steel? Nope!

The British government was concerned that if they left the steel company all alone to face the forces of market competition, Britain would become the only G7 nation without virgin steelmaking capability.

So, in 2020, the British decided to resolve privatisation problems with more foreign private capital. This time from China. British Steel was sold to the Jingye Group. The idea was to prevent liquidation, preserve blast furnaces and save thousands of jobs.

Jingye invested approximately £1.2 billion, modernised equipment, paid suppliers and taxes and kept operations running. But it’s really hard to make a profit from steel.
From the very start, in 2020–2026, the company faced continuing financial difficulties, losing about £700 000 per day because of the exorbitant UK energy costs, which are among the highest in the world, making the blast furnaces inside the increasingly uncompetitive.

Now, the British government has come out expressing concern over “loss of strategic steel capability”. Weapons supply chains, infrastructure and “national resilience”.

So, in 2026, the British government has decided to once again nationalise the steel industry.
The reasons they give are that they want to prevent the closure of their remaining blast furnaces, protect jobs, preserve national security, secure domestic steel production, and facilitate transition to “Electric Arc Furnace” technology.

The question is why not allow the private sector to efficiently do this? Is that not the mainstream economic doctrine anymore?

Oh, and, by the way, the British government is “buying out ” the Chinese steel company for £100 million; while the seller demands £1.2 billion.
The British have gone full Marxist-Leninist and are effectively expropriating the property with little to no compensation.

Something tells me they’re only taking over the industry to resuscitate and fatten it with public money before handing it back to private capital again.

[A @destructiv34179]

Look at the people preaching capitalism to you.

[Loong of the east @loong_of]

China’s Jingye Steel: A Stern Warning to the UK Government to Immediately Cease Trampling on International Investment Rules via Domestic Law

On July 19, China’s Jingye Steel Co., Ltd. issued a solemn statement regarding the UK government’s forced nationalization and illegal expropriation of British Steel—a subsidiary of Jingye Steel. The statement sternly warns the UK government to:

1. Immediately cease the practice of using domestic law to trample on international investment rules, and provide timely, full, and effective compensation for all of Jingye’s investment losses.

2. Acknowledge that every investment made by Jingye is fully documented and verifiable; the company will pursue full recovery without conceding a single penny. Jingye has initiated consultation procedures under relevant bilateral investment treaties and reserves all legal rights—including international arbitration—with absolutely no intention of compromising.

3. Recognize that Jingye is acting in the interest of British taxpayers. The company intends to hold relevant government officials and British Steel’s management legally accountable for the hasty takeover of British Steel—conducted without preparation or an operational plan—which resulted in significant losses for both taxpayer funds and the company’s operations.

Let us wait and see how the despicable politicians in countries like the UK, the Netherlands, and Italy will attempt to redeem themselves from their wrongdoing.

[A @destructiv34179]

@barrahart Ona sure say these people no pay ransom?

[Chetuya Chinagolum @Chetuyachinago]

A prominent Nigerian journalist is currently weeping on live television over the devastating economic hardship ravaging the country. According to his emotional outburst, Nigeria actively lent hundreds of millions of dollars to the IMF and the World Bank during the 1970s, but today, the country is plagued with a catastrophic budget deficit, a crippled currency, and must continuously beg and borrow from those same institutions just to balance the books.

However, as painful and tragic as this economic reality is, we must have the courage to call this exactly what it is: performative journalism. I consider every genuine, conscious intellectual in Africa to be an ideological soldier, whose sole duty, mandate, and historical responsibility is to shed uncompromising light on the structural truth, expose the mechanics of power, and push a relentless enlightenment campaign through their writings, broadcasts, and public speeches. Instead of shedding dramatic tears for the cameras, what Rufai Oseni should have actually done is use his massive national platform to remind Nigerians that this current crisis is simply another devastating form of neocolonialism.

In 1974, OPEC was the supreme, undisputed kingmaker in the global oil and gas industries, controlling international energy prices and dictating exactly how the world's most treasured energy resource should be managed. While many Western economies were struggling, suffocating, and facing severe recessions in the 1970s, OPEC nations like Nigeria were rapidly growing their foreign reserves, as hundreds of millions of dollars in cash-crop oil revenues flowed into our economy every single day. This was the exact moment Western banks and international financial institutions sent highly trained economic hitmen to these newly independent, oil-rich nations. They actively encouraged Nigeria to lend its massive capital to the IMF and the World Bank to help other struggling nations (which were almost exclusively Western European powers), and directly persuaded our leaders to invest their oil revenues back into European banks. Nigeria, under the naive, submissive leadership of General Yakubu Gowon, eagerly accepted this trap, sending hundreds of millions of dollars in interest-free loans to help stabilize the economies of Europe. At this highly lucrative point in our history, there was not a single functional domestic refinery in Nigeria, no world-class scientific research institutions, no robust road networks connecting remote agricultural villages to the cities, no stable electricity grids, no modern healthcare facilities, and no industrialized agricultural sectors. Yet, Nigeria was flatly told by Western economists that they were insanely rich and should be lending out their capital. Gowon enthusiastically agreed, notoriously boasting to the world: "We are so rich we don't know what to do with money."

Ironically, the moment oil prices crashed as OPEC's geopolitical influence weakened (due to massive new oil discoveries in the North Sea by the United Kingdom and Norway, and the Soviet Union rapidly ramping up production to become the largest producer on earth) the global financial-industrial complex closed its trap. The American Federal Reserve aggressively raised interest rates to unprecedented heights, triggering massive capital flight, a dollar squeeze, and a devastating global recession. Nigeria immediately began to feel the heat. Because our ruling class consisted largely of comprador elites who consistently put the financial interests of their colonial masters over the material well-being of their own people, and who had agreed to ship hundreds of millions of dollars to stabilize European economies without investing in local industries, domestic refineries, or robust educational systems, the country was hit with catastrophic force. The economy of the state was pushed to the absolute brink of collapse. It was at this precise, desperate moment that General Ibrahim Babangida was ushered into military power with full Western backing. He immediately ran to the IMF for emergency loans. This time, however, the IMF did not offer Nigeria the free, juicy, and interest-free loans that Nigeria had so generously lent to them in the 1970s. Instead, this bailout came with extortionate interest rates and highly humiliating, structural austerity measures known as the "Structural Adjustment Programme" (SAP). Under the SAP, the Nigerian state was forcefully compelled to remove vital subsidies, aggressively devalue the Naira, open up their local markets for foreign corporate cartels, systematically defund public education, and drastically cut funding for healthcare. This economic shock caused unprecedented, generational hardship, completely wiped out the emerging middle class, and permanently stifled the industrial growth of Nigeria.

So, instead of weeping and shedding theatrical tears on live TV, Rufai Oseni could have used his highly coveted platform to properly, structurally educate Nigerians on this neocolonial development. Our economic condition is indeed deeply gross, shameful, and painful beyond words, but we cannot afford to be emotional; we need to be strong, highly calculative, and analytically rigorous. We must understand that Nigeria cannot continue to operate on the temporary charisma of a single, isolated leader without a deeply institutionalized, scientific ideology. If our leaders continue to blindly adopt all the macroeconomic dogmas, currency floatations, and policy templates handed over to them from Washington, they will always operate an economy designed strictly to please their white colonial masters over the material welfare of their own people.

[Biggest Mack @Big_Mck]

What your economic experts won’t tell you is that while this appears as good news, Nigeria’s economic policies, including raising external reserves (as advised by the IMF and co) are actually geared towards navigating the USD-centric global economy (that the country has no plans of shifting from) and courting credit worthiness from global economic institutions that will result in wasted loans. No part of the country’s economic plans includes prioritizing citizens’ welfare.

That’s assuming they actually increased the reserves, and this is not one of those fake government sanctioned stats.

Until this begins to reflect on wellbeing of the ordinary Nigerian population, let’s allow paid bloggers to carry on with the agenda they are paid to spread.

[A @destructiv34179]

@wmnjoya @Spearhead_Af I'd like to see it please.

[A @destructiv34179]

@iamNeare You're a very intelligent person so I'd say go and intensively study number 2

[A @destructiv34179]

@iamNeare Well written piece, touche!

[A @destructiv34179]

@Big_Mck Thanks for this!

[A @destructiv34179]

@Big_Mck @picapett These guys go around assassinating and toppling leaders who wanted the best for their own people, but your blame is on the victim countries, are you not foolish?

[A @destructiv34179]

@picapett @Big_Mck Bro, you're so foolish!

[A @destructiv34179]

@Big_Mck No mind am, it's not as if he doesn't know that religion in the countries he mentioned is different from what we see it as in Nigeria.

[David Hundeyin @DavidHundeyin]

2 important dots to connect:

1986: IMF Structural Adjustment Program in Nigeria mandates Babangida to liberalise Nigeria's news media and information space. Foreign ownership and funding of mass media is permitted in Nigeria for the first time.

2026: 40 years later, after 2 generations of post-SAP Nigerians have been marinated in American-funded news, "education" and entertainment media for their entire lives, most Nigerians now believe they are Deputy Americans, and hold their primary allegiance to a country they have never been to on another continent. They now support openly imperialist actions by the US and would happily grind their own mothers into paste if the US president tells them to.

Bonus point: The US government owns 17% of the IMF, which requires an 85% voting majority to take decisions. This means the US holds veto power in the IMF, and the IMF is functionally an extension of US foreign policy.

[A @destructiv34179]

@elonmusk @Coinvo @DavidHundeyin

[A @destructiv34179]

@elonmusk @Coinvo @Big_Mck

[A @destructiv34179]

@elonmusk @Coinvo @Chetuyachinago

[Biggest Mack @Big_Mck]

Before you ask me the way forward: we need to rid our country of imperial actors, who collaborate with internal actors, and also capable of corrupting anyone you present as an alternative.

Anti-imperialist fight is the only meaningful movement in not just Nigeria but the whole of Africa at the moment. Without that sorted, we will achieve nothing. You will either accept it now or after May 29, 2027.

[M1NZIE 🇵🇸🇨🇩🇸🇩 @minzdyna]

A brilliant documentary, providing a thorough breakdown of a typical Imperialist destabilization operation.
I now understand why the people involved in this went into overdrive to try discredit the doc before it came out. The lying scum knew they would not have an answer to it

[Slim @onu_slim]

Let me show you how South Africa is crippling the economy of Nigeria through MTN and why your government is not only allowing it but actively enabling it.

MTN Nigeria more than doubled its profitability in 2025, reporting $1.926 billion in earnings before interest, tax, depreciation and amortisation, up 103.4% year on year. Nigeria is now MTN Group’s single biggest profit driver. 

MTN Nigeria declared N1.7 trillion profit before tax in 2025 alone. 

N1.7 trillion which is 2.5% of the Nigeria 2026 budget was extracted from the airtime, data, and mobile money transactions of Nigerians who are already struggling to eat. A significant portion of that profit flows back to MTN Group headquarters in Johannesburg, South Africa.

Nigeria is not MTN’s market. Nigeria is MTN’s feeding trough.

Now understand the mechanics of how this works.

MTN Nigeria charges Nigerians some of the most expensive data rates relative to income in Africa. The Nigerian government through the NCC approved a 50% tariff increase in early 2025, citing inflation and naira devaluation. Data revenue surged 63% to $1.84 billion in 2025, accounting for 53% of total MTN revenue. 

So the naira collapsed. Nigerians got poorer. The government approved higher telecom tariffs and MTN’s profits doubled.

The Nigerian poor paid for a South African company’s record earnings.

Then there is the profit repatriation structure.

When MTN Nigeria makes N1.7 trillion in profit, that money does not stay in Nigeria building infrastructure, creating jobs, or developing local technology capacity. The majority flows upward to MTN Group in South Africa through dividends, management fees, licensing fees, and intercompany transactions that are entirely legal and entirely extractive.

MTN Group reported a profit after tax of $1.53 billion in 2025 across the group. Nigeria and Ghana account for the overwhelming majority of that figure. 

South Africa’s economy benefits from profits generated by Nigerian consumers. Nigeria gets the network. South Africa gets the wealth.

Now add the technology dependency.

MTN imports its core network infrastructure from foreign suppliers including Chinese, European, and American technology companies.  Nigeria has no meaningful local technology manufacturing industry feeding into that supply chain. Every base station, every router, every core network element is imported. The dollars leave Nigeria twice. Once through the supply chain and once through profit repatriation.

Research has shown that multinational corporations operating in Nigeria have done more harm than good in terms of profit repatriation, non-technology transfer, and failure to develop local capacity. MTN is the most visible example of that finding in action.

A Nigerian farmer in Katsina buys N500 airtime. That transaction generates revenue for MTN Nigeria, which declares profit, which pays dividends to MTN Group, which reports earnings to shareholders in Johannesburg, which strengthens South Africa’s capital markets and investor confidence.

The farmer gets call credit that expires in 14 days.

South Africa gets foreign earnings from a Nigerian subsistence farmer who has never left his state.

That is not business but an economic colonialism with a SIM card.

And the Tinubu government’s response to this arrangement is to approve tariff increases that make MTN more profitable, appoint regulators who do not challenge the profit repatriation structure, and then hold press conferences about economic recovery.

Nigeria has 220 million people and the largest telecom market in Africa.

A Nigerian-owned national telecom champion should be the dominant player in this market, building local infrastructure, training local engineers, and keeping Nigerian wealth inside Nigerian borders.

Instead we have a South African company doubling its profits on the backs of the poorest consumers on the continent while its CEO tells Nigerians that unlimited data is a fantasy.

[Adedayo Agarau @adedayoagarau]

Nigerian history deserves more than scattered Wikipedia pages. For @1000reasons9ja, I created 1800+ dated moments of Nigerian history. You can now trace Nigeria from the 1300s to 2026.

I also added 200 more reasons against T-Pain’s administration.

https://t.co/1EXFx3V47M