Monday 7th April , 2014 10:16 am
President John Mahama has lamented the failure of Nigeria to fully comply with the Economic Community Of West African States (ECOWAS) Trade Liberalization Scheme (ETLS).
Nigeria has consistently denied market access to other West African countries despite efforts to promote cooperation and the creation of a common market for the sub region.
According to President Mahama, Nigeria must not fear competition from other West African countries considering the size of their market.
Speaking at the London School of Economics, Africa Summit in London, President Mahama stated that “I believe that Nigeria has a certain kind of responsibility in West Africa, because it is the largest economy and the most populous country and Nigeria has nothing to fear from Ghana in terms of competition. Nigeria has nothing to fear from Cote D’lvoire in terms of competition. Nigeria has nothing to fear from Benin or Togo or Niger in terms of competition and yet year in, year out, there is a prohibition list”
He also stated that even though Ghana has products that have registered under the ETLS and signed the protocol on the ECOWAS Trade Liberalization, “the ETLS prohibition list doesn’t allow people to take textiles into Nigeria, process goods into Nigeria”, a situation he described as a stumbling block to the integration process.
“I think it is a certain misconception and a certain not really tangible fear that if the market is open it will bring competition and make some people lose out in the Nigerian market,” he further stated.
By: Marian Efe Ansah/citifmonline.com/Ghana