Ghanaian parliamentary leader speaks on $1m requirement for Nigerian business

Nigeria and Ghana are to work together to resolve the trade impasse between the two countries, the Speaker of Ghana Parliament, Alban Bagbin, said Wednesday in an address to the House of Representatives.

The Ghanaian lawmaker was admitted to the House to address the members as part of Speaker Femi Gbajabiamila’s “Parliamentary diplomacy.”

Mr Bagbin spoke on the trade impasse and also made commitments to resolve the lingering crisis.

It would be recalled that Mr Gbajabiamila and the former speaker of the Ghana Parliament, Mike Oquaye, met back in September 2020 following the blowback over the Ghana Investment Promotion Centre Act.

In his address, Mr Bagbin said Ghana-Nigeria Friendship Act will be set up and it will set up the proposed “Ghana-Nigeria Business Council.”

Mr Bagbin said the government of Ghana had resolved to review the capital requirement for trading enterprises under the Ghana Investment Promotion Centre Act, 2013(Act 865).

Background

The Nigerian government had shut down its borders in 2019, citing security and economic issues across the country.

Nigeria’s Seme Krake Border was closed in August 2019. Following that action, the Ghanaian authority started the enforcement of the $1 million requirements for trading enterprises for non-Ghanaians. The policy reportedly led to the closure of about 300 shops belonging to Nigerians.

Also, the Nigerian Mission’s property located at No. 19/21 Julius Nyerere Street was also demolished.

Mr Gbajabiamila had promised that he would use parliamentary diplomacy to resolve the impasse between the countries.

House committee on Ghana-Nigeria relation

In his speech, Mr Bagbin said he had set up a seven-member committee on the Ghana-Nigeria relationship.

“The Ghana-Nigeria Friendship Act”

In furtherance of that, under my leadership, the Parliament of Ghana has appointed a seven-member committee as Ghana’s delegation to the Joint Committee of Eminent Persons of our Legislatures. They will interact with their Nigerian counterparts towards passing the “Ghana-Nigeria Friendship Act,” he said

“The Act will set up the proposed “Ghana-Nigeria Business Council”, which is intended to provide the legal and institutional framework to sustain the continued friendship and business interests of our people. I am particularly glad to indicate that they are with me on this trip and are ready to engage with their counterparts towards realizing the intentions expressed in the Act.”

Mr Gbajabimila also announced the composition of a committee to interface with their Ghanaian counterparts.

The duo also briefed journalists after a closed-door meeting.

At the briefing, Mr Gbajabiamila said the Ghanaian government would take care of the demolished Mission building.