By Gift Chapi Odekina
The Speaker of the Ghanian parliament, Alban Kingsford Bagbin has assured Nigerians that the trade dispute between Nigeria and Ghana will be put to an end.
The Ghanian lawmaker who is in Nigeria for a parliament visit gave the assurance while addressing members of the green chamber during plenary in Abuja.
According to Bagbin, the low level of trade in African countries has contributed immensely in the poverty currently faced by Africans.
Speaking on some measures Ghana has implored in tackling the trade war between both countries, he said that the parliament of Ghana has appointed a seven-member committee as Ghana’s delegation to the joint committee to interact with their Nigerian counterparts towards passing the “Ghana-Nigeria Friendship Act.
He said, the Act will set up the proposed “Ghana-Nigeria Business Council”, which is intended to provide the legal and institutional framework to sustain the continued friendship and business interests of both countries.
He afurther expressed readiness to deepening the Parliamentary Diplomacy that would cause progress and development for both countries
“It is important to mention at this stage, that relations between our two countries have not always been smooth. Consistent with the tongue and teeth metaphor which has it that even though the tongue and teeth play complementary roles in the digestive process, they come into conflict occasionally. Similarly, our relations have had its own challenges every now and then.
“I am particularly glad to indicate that they are with me on this trip and are ready to engage with their counterparts towards realizing the intentions expressed in the Act.The communique of 31st May 2021 meeting, suggested in part a ring-fencing of some of the thorny requirements of the Ghana Investment Promotion Centre Act, 2013(Act 865). This was a laudable suggestion.Of particular mention, in this regard, it is the reconsideration of the one million United States-Dollar minimum capital requirement for trading enterprises under section 28 (2) of the Act.
“This is to facilitate regularization of the businesses of the affected Nigerian retail traders in the trade impasse. Equally commendable is the special concession to be applied to the requirement for the payment of 0.5 percent stamp duty on the capital investment required by both the GIPC and the Registrar-General’s Department in respect of investment by foreign nationals”, he added
“The low levels of trade among African countries as compared to trade with other parts of the world constitute one of the defining characteristics of our continued poverty. Data available from the United Nations Economic Commission for Africa (UNECA) indicates that in 2019 Africa’s total volume of trade was about US$460billion, however only US$69billion of this huge volume of trade was transacted among African nations. What is even more worrying is that most of these imports traded can be produced and procured in Africa.
“This unfortunate trend hinders prospects of bringing the needed prosperity to our people. It results in the frailty of our security situation given that the rising youth unemployment on our continent which is the world’s youngest continent, occasioned by this unpleasant development, provides handy tools to those so minded to perpetrate all acts of vandalism, hooliganism and violent extremism”.
“Conclusion let me conclude by affirming my readiness to contribute to deepening the Parliamentary Diplomacy that have been commenced to deal with all current and future challenges that our continent may be confronted with. I am particularly excited about the Conference of Speakers and Heads of African Parliaments (CoSAP) initiative to pursue the cancelation of the rising debt situation in Africa, occasioned by the impact of the COVID-19 Pandemic.
“I am of the firm conviction that with effective Parliamentary Diplomacy in support of the executive arms of our government, as well as our development partners, this initiative will see resounding success. Our history is replete with instances where Ghana and Nigeria have confronted and overcome our challenges. Working together, this seeming mountain before us shall be a pebble behind us”, he stated.
“Hon. Speaker, I am here just to help bring finality to the impasse. I pledge my commitment and that of the Parliament of Ghana, to contribute in every way possible to end the impasse between traders of our two sister countries.
In his reaction, Speaker, Gemini Gbajabiamila said, Nigeria will be mindful of the bilateral relation between the two countries.
He assured the Ghana Speaker that Nigeria was ready to corporate with Ghana to bring to an end the trade dispute between both countries.
