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Nigerians account for 70% Ghana’s petty trade – Expert

Nigerians account for about 70 per cent of petty trading activities in Ghana and this may be the cause of the trade standoff between Ghanaian and Nigerian traders in the country.

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A former Head of Economy and Politics, Nigeria High Commission, Ghana, Dr Fonma Usoroh, said this during a media parley on the upcoming West Africa Infrastructure, Energy, Mining, Trade Exhibition and Investment (WAIEMTI) Summit in Accra organised by the African Business Ventures and Investment (ABVIG).

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Dr. Usoroh said the recent policy in Ghana that restricts non-nationals from participating in local petty trades and the requirement that the businesses of foreigners must be worth $1 million in cash and assets before they can operate in the country targeted Nigerians.

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He said the acrimony between Nigerian traders and those from Ghana is as a result of the dominance of Nigerians in the trade sector, adding that about seven banks operate in Ghana and that meant there is substantial Nigerian investment in the country.

The chairman of the planning committee of the summit, Mr. Moses Owharo, said the event will help Nigeria to address some of the challenges Nigerian traders are facing in Ghana and to also engage policy makers in the country on amicable resolution. 

Owharo also said the aim of the summit, slated for August 28 to 31, is to identify challenges and proffer solutions to infrastructure, energy and trade as well as tackling issues facing the citizens in the areas of energy access and cost.

He said it is a platform for Nigerians to network with international experts and copy best international practices for domestication.

 

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