Ghana, Nigeria set up body to resolve $300,000 levy for Nigerian businesses

Ghana and Nigeria have agreed to resolve the issue of a levy placed on Nigerian businesses operating in Ghana.

Nigerian businesses in Ghana are required to pay a $300, 000 levy by the Ghana Investment Promotion Council (GIPC) before they are licensed to operate. The levy came into effect November 28, 2007 and since then most Nigerian businesses have closed.

Ghana imposed the levy on foreign businesses that want to operate in the retail sector that has been reserved exclusively for locals to protect Ghanaian businesses. But most Nigerians have entered the retail market, in which it is believed they have an edge over their Ghanaian counterparts.

It is hoped however, that this committee would resolve the matter finally.

By Emmanuel K. Dogbevi