UNDERSTANDING THE GHANAIAN POLICY SHIFTS
By Eruobodo.
The video of a Ghanaian Minister, making public announcement of their government’s new policies to attract manufacturers and foreign direct investors into Ghana, has been public for some weeks now.
When I first saw the video, I merely smiled, with the clairvoyant understanding of a Prophet, seeing the coming to past, of an earlier prediction, even if it is some 26 years after.
In the 90s, Nigeria led the drive to jumpstart sub-regional trade within ECOWAS, I was in that group.
Amongst the policies “pushed” through the acceptance by the ECOWAS Trade Group was what was popularly called the “TLS”, the Trade Liberalization Schemes.
Under these schemes, ANY goods of “ECOWAS origin” (the criteria for qualifying for this is established), is admissible into ALL ECOWAS countries “duty free”.
The policy then was to Nigeria’s advantage, as it was akin to Nigeria forcing the smaller neighbours to open their doors to allow in our products duty free.
However, I ALWAYS warned other Nigerian representatives on the ECOWAS Trade Mission Group then, unless we get our acts right, this policy shall boomerang!
How?
With sound policies, any smarter neighbours can attract investors knowing that the huge market, Nigeria, is available next door, similarly DUTY FREE!
Thus, Ghana introduced ALL her new economic policies, in order to achieve what Eruobodo warned our myopic rulers about, 26 years ago!
The goods to be produced by these companies, are coming back to Nigeria duty free! We cannot stop them! Nigeria championed the ECOWAS goods duty free policy.
We focused on oil revenues, failing to improve our economy to take full advantage of this policy. What we failed at, the Moroccans and Ghanaians are ensuring!
Thus, as you heard about what Ghana is doing policy wise, you now know their assurances?
By an international accord championed by Nigeria, our huge market is “guaranteed” for those products, DUTY FREE!
