Business

‘Nigeria’s investment incentives for ECOWAS members remain’

The Acting Nigerian High Commissioner to Ghana, Ambassador Gambo Yusuf Hamza, has stated that Nigeria’s brotherly stance to encourage investors from the ECOWAS region remains sacrosanct.

 

Speaking at the National Trade Forum organised by FBNBank-Ghana, the ambassador said Nigeria, through its actions had shown a lot of commitment and leadership in trade across the West African sub-region, which must be emulated by other ECOWAS member-states.

 

According to him, “Nigeria is doing a lot. Nigeria is one of the founders of ECOWAS and is committed to the ECOWAS protocol. Nigeria is certainly playing a leading role in implemen-  tation of the ECOWAS protocol.

 

“First of all, the Nigeria Investment Promotion Commission Act states that anyone within the sub-region who is going to invest in Nigeria will have a 100 percent liberalisation.

 

That is a 100 percent ownership of his trade or investment in Nigeria. “This means the repatriation of profits and repatriation of capital in the event of closing-up or divestment from the investment.

 

Government has already put in place tax exemptions for certain categories of industrial establishments in Nigeria from the West African subregion, in addition to the general ECOWAS liberalisation treaty.

 

“Nigeria has given nationals of ECOWAS memberstates the right to approach the International Court of Arbitration in the event of any conflict that arises between the domestic market and the company.”

 

He added that this was in addition to tax exemption and the fact that nationals of ECOWAS member-states who invest in agriculture will enjoy zero Customs duties on their import of agricultural inputs into Nigeria, and also zero VAT for profit from agriculture.

 

He explained that these are all ways in which Nigeria is showing leadership, and urged governments across the regional bloc to do likewise. Nigeria has, in recent times, come under a lot of criticism from sections of the Ghanaian public for undertaking actions, which are deemed to undermine trade between ECOWAS states.

 

Of particular mention is the closing of that country’s land borders for a considerable length of time – leading to a complete halt in the transportation of goods to and from Nigeria. In the course of the closure, traders from ECOWAS countries suffered a lot of hardships including loss of goods and capital.

 

Taking advantage of the platform provided by the FBNBank@ 25 National Trade Forum, the Acting High Commissioner explained the actions of his home government and Nigeria’s commitment to the ECOWAS trade agreement.

 

The FBNBank@25 National Trade Forum is a thoughtleadership platform on trade initiated by FBNBank-Ghana as part of the activities commemorating the bank’s  25th anniversary.

 

The first in the series featured five other panellists including Seth Twum- Akwaboah, Chief Executive Officer of the Association of Ghana Industries; Ambassador Diana Acconcia, Head of the European Union delegation to Ghana; Anthony Nyame-Baafi, Technical Advisor, Multilateral, Regional and Bilateral Trade,

 

Ministry of Trade and Industries; Fechin Akoto, Officer- in-Charge, Tariff and Trade, Customs Division, Ghana Revenue Authority; and the host, Victor Yaw Asante, Managing Director, FBNBank Ghana; with George Wiafe of Multimedia Broadcasting as the Moderator.

 

TRY IT TONIGHT!!! ---

 

Abuja Civil Servant reveals (FREE) secret Fruits that Increased his Manh0d size, gives Stronger Erections and ends Premature Erection in 7days...

   

CLICK HERE FOR FULL DETAILS.

 

%d bloggers like this:
Fake Richard Mille Replica Watches, www.richardmille.to The ceramic upper and lower cases are imported from Taiwan and are processed by ATPT ceramics to form Y-TZP ceramics. After high-tech anti-fingerprint technology, they present a delicate and soft sub-black material. This color quality has remained unchanged for a hundred years. The color and luster are more detailed to achieve the ceramic tone visual pattern electroplating upper and lower shells that are infinitely close to the original products, with anti-reflective coating sapphire glass! The tape uses a soft and delicate Malaysian imported top rubber strap, and the movement is equipped with an imported Seiko NH movement. The buckle of this version is made according to the original size and thinness, making it feel more comfortable and intimate, the highest version on the market Richard Mille Replica