FG urges review of $1m business capital demand by Ghana

To resolve the dispute between Ghana and Nigeria, Femi Gbajabiamila has made a critical request to the gold coast nation.

The speaker of the House of Representatives called on the Ghanaian government to review the $1 million business capital demand on Nigerian traders.

On his part, Alan Kyeremanteng, Ghana’s trade minister, said that the amount was not fixed to victimise the national of any nation.

The Nigerian government has called on Ghana to review its Investment Promotion Centre (GIPC) Act 2013 (Act 865) that demands a capital of $1 million for businesses owned by foreigners, including Nigerians.

The speaker of the House of Representatives, Femi Gbajabiamila, made this call to the gold coast during his diplomatic meeting the Ghanaian counterpart, Professor Aaron Michael Oquaye in Accra on Thursday, September 3, Guardian reports.

Promising that Nigeria will improve bilateral trade relations with Ghana, Gbajabiamila maintained that the downward review of this fixed amount will go a long way to foster this business relationship.

Moreover, the speaker called for legislative diplomacy in settling the issues that have strained the smooth relationship both countries have enjoyed.

Reacting to Gbajabiamila's request, Oquaye warned that private or commercial deals between persons and established bodies of Ghana and Nigeria should not be confused for official engagements.

On his part, Alan Kyeremanteng, Ghana’s trade minister, said that the GIPC Act 2013 was not in any way targeted at Nigerians or nationals of other countries.

Meanwhile, Legit.ng reported that Gbajabiamila who arrived the neighbouring West African nation on Wednesday, September 2, on a diplomatic mission, met with his Ghanaian counterpart, Oquaye.

The lawmaker met with representatives of Nigerian traders in Ghana who recounted to him their ordeal at the hands of government officials.

During his peace talk with Oquaye, Gbajabiamila expressed hope that both nations would be able to fashion measures that would foster peace and a smooth relationship for them.

He noted: “Nigeria and Ghana are more like Siamese twins. Brothers will always have squabbles, healthy ones; national interest on both sides will always come to play but it’s not the misunderstanding that matters, it’s how you resolve it that counts."