Establishment of Nigeria Trade Offices abroad is one of those strategies to promote our non-oil exports, as well as increase the inflows of investments. To achieve these goals, the Offices must be adequately staffed and funded in order to make them effective and very operational. Their operational effectiveness could provide a trading architecture that will enable Nigeria to be a key player in international trade both at regional, continental and multilateral levels. It will also provide the tools for trade to contribute maximally to Nigeria’s macroeconomic indices such as GDP, employment, investments, foreign exchange earnings and inflationary stability etc.
The Federal Ministry of Industry, Trade and Investment (FMITI) therefore needs a living document that serves as a guide for the establishment and operations of the NTOs.
Ghanaian Market traders sometimes took the law into their own hands, which prompted the Ghanaian authorities to do an audit of retail shops which necessitated the close down of over 300 Nigerian-run stalls. The Ghanaian law seeks to protect smaller local traders and those running small businesses like barbers or beauty salons. Nigeria on the other hand was accused by the Ghanaian Government of closing its border against goods from Ghana. The argument is that Nigeria by closing its Seme border hindered goods from Ghana entering into Nigerian markets which Ghanaians considered as economic sabotage. The two West African nations have been at loggerheads over trade for decades, without serious consequences. Until recently, the intensifying mistreatment of Nigerian nationals in Ghana. Nigerians who have been doing business in Ghana have been harassed, and had over 300 of their shops closed with all sorts of molestation and intimidation.
However, in May and June 2021, both countries saw the need to hold a high-level bilateral meeting, the Nigerian delegation led by the Hon. Minister of Industry, Trade, and Investment, and representatives of the Ghanaian Government led by the Ghanaian Minister of Trade and Industry. This meeting gave birth to the inauguration of an inter-ministerial committee and The Nigeria-Ghana Bilateral Trade Commission.
There is the need to complement these policy thrusts with a Pan-African disposition. Citizenship policy is needed to promote the interest of the people but it must be tailored to accommodate other countries hence the approval by the Nigerian President in 2021 to establish the Nigeria Trade office in Accra Ghana to handle issues related to the Nigeria traders, other trade and investment related matters and the African Continental Free Trade Area Agreement (AfCFTA).
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