Gbajabiamila urges Ghana to revisit $1m capital base for Nigerian business owners

Seeks bilateral trade law between both countries

Advocates application of ECOWAS protocols

TRACKING_____Speaker of the House of Representatives, Femi Gbajabiamila has advocated the review of the $1million capital outlay slammed on Nigerian business owners by Ghanaian authorities.

The speaker made the demand during a bilateral meeting with Ghanaian lawmakers and other top government officials as part of his ongoing visit to Ghana for an amicable settlement of trade disputes between Nigerian traders and their host nation through arbitration and fair judicial processes.

Also, Gbajabiamila said he would champion a law to improve the bilateral trade relations between Nigeria and Ghana, noting that citizens of the two countries remain brothers and sisters.

He called on Ghanaian authorities to revisit the component of the law that requires a capital base of $1 million for businesses to start, saying as Africans, Ghana should encourage brotherliness.

According to him, while it is the right of the Ghanaian government to implement the GIPC Act, it should however, consider the plight of Nigerian traders and business owners who pay their taxes and contribute to the development of the two nations.

The speaker further stated that the prospect of the Nigerian business owners being able to raise $1million as capital before they can trade in goods worth less than $1,000 is a major challenge that needs to be addressed.

He added that as ECOWAS countries, citizens of both nations should be able to live, work and thrive in any nation in the region without any form of hindrance or discrimination, especially as it relates to the African Continental Free Trade Agreement (ACfTA) and the movement towards a single currency for West Africa.

“Nigeria and Ghana are siblings from the same family.

I would be willing to champion a law that helps to improve the bilateral trade relations and reciprocal legislation between our two countries by jointly passing a Nigeria-Ghana Friendship Act.

“It will help to cement into law the good relations between our countries and also create a legal framework for further camaraderie that will enable us to ensure that when it comes to Nigeria and Ghana, our laws will support efforts to improve relations, trade and friendly interactions between our citizens, institutions and governments.

“We do not have an exact title for such a law as at now, but agreeing on reciprocal legislation that cements the friendship between our nations and ensures that it continues to thrive and benefit all our citizens, no matter where they live would go a long way in strengthening our relations on all levels,” Gbajabiamila said.

He disclosed that in a bid to improve bilateral relations among African countries that he has been championing the creation of the Conference of Speakers and Heads of African Parliaments ( CoSAP), aimed at identifying and resolving issues, and challenges that affect growth, stability and development across the continent.

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He said the challenges that Nigerian traders face in Ghana are a cause for deep concern for all arms of the Nigerian government and the Nigerian people, and called for urgent action to end the hostility.

Responding, the Ghanaian Minister of Trade and Industry, Alan Kyeremateng, said there are many Ghanaians and Nigerians who are going about their lawful duties without difficulties.

“The incidences that have occurred where some shops were locked must have risen out of situations where there were clear abuses of the application of the laws,” he said.

The Ghanaian minister added that Nigerian business owners doing legitimate businesses would be allowed to continue to do so, saying that “I want to give you that assurance that that will be the case.

Anybody engaged in business, trading, doing the rightful things, they must have no difficulties.”