Business News of Wednesday, 23 October 2019
Source: www.ghanaweb.live
2019-10-23Ghana needs Nigeria more than they need us – Minister
play videoPresident Nana Addo Dankwa Akufo-Addo in an handshake with Nigeria President Buhari
Deputy Minister for Trade and Industry, Carlos Ahenkorah, has revealed the extent at which the country relies on Nigeria.
According to him, when it comes to trade and other economic balances, Ghana needs Nigeria more than ever, so putting in place countermeasures against Nigeria would not be the best solution to solving the border closure.
“The best way
Read full articleto solve this problem is not to pay Nigeria back or have some countermeasure, but coach them into understanding that look, hey we are all losing, and we need you, we need each other. But I can tell you without blinking an eye that economically, trade wise, we need Nigeria more than they need us,” he said this while speaking on JoyNews' PM Express show.
In his view, a country such as Nigeria cannot be bluffed in as much as they are a better recipient of our products.
“If our gargantuan transformation agenda is going to work, we need markets to offload our products. This off-takers cannot be blocked.”
Several African countries have expressed their displeasure and disappointment in the Nigerian government following the country’s border closure.
Among them is the government of Ghana as well as its trade unions who are calling on the ECOWAS committee to intervene.
They say this closure has caused several businesses and companies to dwindle in its short time.
The Nigerian government in its response indicates that the closure was carried out in other to halt the smuggling of drugs, fake goods and contraband into the country.
Reports show that since the closure began, there have been a major bust of goods, including ammunition, which were being smuggled into the country.
However, the Ghana Union of Trade Association has lamented over the Nigerian authorities’ radical move to close its borders calling it a deliberate attempt to benefit the country economically and not curb criminal activities.
“Nigeria recognizes that it is not been bound by any protocol that is signed. It also showed that the ECOWAS protocol that we here adore so much is not sycophant…Nigeria is showing the way that we have to clear the mess that the ECOWAS protocol has brought to bear.” President of the Association, Joseph Obeng has said.
