Vanguard reports that the Ghanaian Minister of Trade and Industry, Mr. Ekwow Spio-Garbrah, said “Ghana and Nigeria are said to account for some 68 per cent of the ECOWAS region’s Gross Domestic Product.”
Country bans importation of Nigerian goods
Reports say this is in retaliation to Nigeria’s initial move, restricting 41 items from accessing foreign exchange.
Also, the Chief Executive Officer of Ghanaian Association of Ghana Industries complained that though Nigeria banned bagged cement from coming into the country, Dangote Cement exports 750,000 tonnes of cement every year, into Ghana, adding that the issue should be resolved.
“If it does not work then we must also look at countervailing measures…it could be product targeting,” he said.
Kate Quartey-Papafio, CEO of Reroy Cables also said “If we also make it difficult for them to export, then we would have to find common ground.”
The Managing Director of Intravenous Infusions Limited, Mr Richard Okrah also complained that his pharmaceutical products are on Nigeria’s prohibition list.
Okrah said “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.”
The Central Bank of Nigeria (CBN) in a bid to preserve Nigeria’s external reserves and manage pressure on the Naira, banned over 40 items from accessing foreign exchange through the official window.
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