by Sanna Camara
Representing the voice of the sub regional youth community, ECOWAS Youth Council has decried the new $1 million fees imposed on each of the Nigerian businesses operating in Ghana, describing it as inimical to bilateral and regional trade among member states of ECOWAS.
In addition to “huge sum requested to process the [business] permit”, these new fees are “a serious concern that needs to be given quickest attention” by the ECOWAS Parliament, African Union (AU) and relevant authorities, a media statement released this week argued. The council equally decry as exorbitant, the increase in residential cards to $120 for non-Ghanaian nationals in the country.
“Trade ties are particularly important to the growth of every region and continent because such bonds serve as a conduit for opportunities in economic development; build access to regional markets, increase incentives for more investment flows, and permits suppliers to specialize and integrate into regional supply chains that ultimately cater to cutting-edge regional economic index,” the statement signed by Mr. OluwaSeun O.E. William-Ologun, Chairperson ECOWAS Youth Council, pointed out.
As the two largest economies in West Africa, the relationship between Nigeria and Ghana is very crucial to sub regional trade, said Mr. William-Ologun, noting that revenues collected, and tax to ECOWAS liquidates much achievement, thus giving global recognition on improved trade and economic growths within the sub regional bloc.
In this light, the ECOWAS Youth Council in its efforts to champion peace, regional trade and dispute resolution encourage both parties to abdicate acts that are not impetus of solution to the promotion of peace and security in the sub-Saharan region.
The Youth Council also encourages member states to, among other things, exhibit a therapy of anti-xenophobia measures among citizens so as to priorities better and free trade, integration and promotion of a sustainable and free markets.