Connect with us

Hi, what are you looking for?

Business News

Ghana Bans Goods from Nigeria, Other Countries

Ghana has prohibited some items from entry into its domain, following Nigeria’s foot steps that restricted 41 items from access to foreign exchange.

Ghana however has placed a ban on some goods from being imported into the country.

Ghanaian Minister of Trade and Industry, Mr. Ekwow Spio-Garbrah stated yesterday that Ghana and Nigeria are said to account for some 68 per cent of the ECOWAS region’s Gross Domestic Product.

Nigeria accounts for almost 10 per cent of Ghana’s foreign trade volume, whereas Ghana is listed as the 9th largest trade partner to Nigeria.

Favourite investment hub

In spite of the difficulties, Ghana remains Nigeria’s largest trade partner and favourite investment hub in the West Africa sub-region, as Ghana imports the largest share of all Nigerian oil exports in the West African sub-region.

While ‘bagged cement’ is on Nigeria’s prohibition list, Dangote Cement brings in and bags some 750,000 tonnes of cement a year for the Ghanaian market, and is expected to increase this to 1.5 million tonnes by end of this quarter. The Chief Executive Officer of Ghanaian Association of Ghana Industries stated that there should be a clear letter written to the Nigerians complaining about this, and then also try and use some diplomatic means to quickly resolve it.”

“If it does not work then we must also look at countervailing measures…it could be product targeting,” he said.

“If we also make it difficult for them to export, then we would have to find common ground,” Kate Quartey-Papafio, CEO of Reroy Cables argued.

Even for those who are able to export to Nigeria, you have to get different certificates for different customers and it takes a whole lot of time to get it.

It makes the whole thing so cumbersome. You are exporting the same thing but you have to go and get certificates for each of the customers,” she said.

Nigeria has used an “Import Prohibition List” to refuse certain goods entry into that country, including a host of pharmaceutical products.

Also, the Managing Director of Intravenous Infusions Limited, a pharmaceutical company, Mr Richard Okrah noted that his company could have generated an additional 25% of export turnover from the Nigerian market.

“We have been making efforts through our agent in Nigeria to get us off this list. But it is becoming a very difficult job for us,” Richard Okrah told the B&FT by phone. The company, he said, currently produces close to 6million IV fluids of various sizes per year, and that: “We have the capacity to step this up to 15 million because we are installing a new semi-automated plan that should be up and running by the middle of April this year”.

He said his company faces no such restrictions from Burkina Faso, Cote D’Ivoire and other countries where it exports to.

__________

Follow us on Twitter at @thesignalng

Copyright 2015 SIGNAL. Permission to use portions of this article is granted provided appropriate credits are given to www.signalng.com and other relevant sources.

1 Comment

1 Comment

  1. City tutors Ltd

    February 23, 2016 at 6:55 am

Leave a Reply

Your email address will not be published. Required fields are marked *

Advertisement

Related

News

President Ahmed Bola Tinubu has directed the opening of Nigeria’s land and air borders with the Republic of Niger. Presidential spokesman, Ajuri Ngelale in...

Africa

The African Union on Tuesday said it feels ”deep regret” over the withdrawal of Burkina Faso, Mali and Niger from ECOWAS. The AU said...

News

The Authority of ECOWAS Heads of State and Government has established a committee to engage with the military junta in Niger Republic on the...

News

France on Friday rejected the Niger junta’s attempt to revoke bilateral military agreements, claiming that only the nation’s “legitimate” leadership was qualified to do...

Copyright ©