Nigerian gov’t reacts to Ghana’s move closing retail shops owned by foreigners
The Federal Government of Nigeria says has become aware of actions taken by Ghanaian authorities to close down all retail shops owned by all foreigners including ECOWAS nationals.
Ghana’s investment law requires that before a foreigner starts business in the country the person must have an initial capital of $300,000 regardless of its size.
Even though Ghana’s Trade Minister Ms Hannah Tetteh has explained that the law binds all foreigners, some Nigerian traders in the country, believe that the move is targeted at them. On Tuesday, the government’s task force closed down shops owned by foreigners who have not met the requirements.
Reacting to the developments in Ghana, the Nigerian government says it was hopeful of a speedy resolution of the alleged maltreatment of its businessmen in Ghana, the Daily Times of Nigeria reports July 4, 2012.
The federal government said it cannot ignore an obvious violation of the ECOWAS protocol.
Labaran Maku, the Minister for Information, told journalists on Wednesday that the federal government was confident that the Ghanaian authorities would reconsider the policy, especially after ECOWAS has intervened in the matter.
“Nigeria and Ghana enjoy very cordial and friendly relations; they are one of our foremost business partners in the West African sub region. “In ECOWAS, we share common values, common vision for this sub continent and Ghana has always supported Nigeria on all major issues within and outside Africa and we also always stand by Ghana. Yes, there will always be disagreement between neighbours on issues; even between husbands and wives, there are times of quarrel,” the publication quoted Maku as saying.
Maku, according to the Daily Times report assured that his country and Ghana will “continue to work together to resolve any teething problems that will arise as we continue to integrate West Africa and to promote economic development, fight poverty and the development of this sub region.”
Nigerian investors in Ghana are predominantly involved in real estate, textile and garments, electronics, banking, telecommunications and tourism.
By Ekow Quandzie
The the response of Federal Government of Nigeria is statesmanship as was of matured stance… in such times cool head prevail for continuous seek of solution and i commend the minister’s position.