Business News of Saturday, 25 July 2026

Source: www.ghanaweb.com

Ghana, Nigeria target increased trade with renewed AfCFTA cooperation

Samuel Okudzeto Ablakwa is the Minister of Foreign Affairs in Ghana play videoSamuel Okudzeto Ablakwa is the Minister of Foreign Affairs in Ghana

Minister for Foreign Affairs, Samuel Okudzeto Ablakwa, has urged Ghana and Nigeria to intensify efforts to eliminate trade barriers and accelerate the implementation of the ECOWAS single currency, as part of measures to strengthen regional integration and maximise the benefits of the African Continental Free Trade Area (AfCFTA).

According to Ablakwa, stronger economic cooperation between the two largest economies in West Africa is critical to expanding cross-border trade beyond 20 percent and creating greater opportunities for businesses across the subregion.

"Ghana and Nigeria must continue to work together to remove impediments to trade and deepen economic cooperation to fully realise the immense potential of the AfCFTA," he stated.

Enterprise Pension Scheme assets hit GH¢247m

The Foreign Affairs Minister made the remarks when he received the letters of credence from Nigeria's High Commissioner-designate to Ghana, His Excellency Shehu ILU Barde on Saturday July 25, 2026.

He further called on Nigeria and other ECOWAS member states to demonstrate renewed commitment to the launch of the long-awaited ECO currency, saying it would facilitate trade and promote economic growth across the region.

"The introduction of the ECO will inspire greater confidence in regional integration and make cross-border commerce more efficient for our people," he added.

Ablakwa further used the occasion to draw attention to the reported attacks on properties belonging to Ghanaian business magnate Sam Jonah in Nigeria.

He also appealed to the Nigerian authorities to investigate the matter and ensure that Ghanaian investments in the country are protected.

"We are confident that the relevant authorities will thoroughly investigate these developments and guarantee the safety of legitimate investments," he said.

Receiving the concerns, Nigeria's High Commissioner-designate, Shehu ILU Barde, expressed gratitude to the Government of Ghana for the warm reception and reaffirmed Nigeria's commitment to strengthening the longstanding relationship between the two neighbouring countries.

"The friendship between Ghana and Nigeria remains strong, and I am committed to deepening our cooperation for the mutual benefit of our peoples," he noted.

On the concerns surrounding Sir Sam Jonah's Mobus Properties, Barde assured the Ghanaian government that he would personally engage the appropriate authorities to establish the facts.

"I will take up the issues regarding Mobus Properties and ensure that the necessary investigations are undertaken in line with our laws," he assured.

It also reaffirmed both countries' commitment to advancing regional integration through AfCFTA and ECOWAS initiatives.

ANAS/EB

Ghana, Nigeria target increased trade with renewed AfCFTA cooperation

video=138338>