How Nigeria's border closure is affecting trade with its neighbours

The recent partial closure of Nigeria's borders continues to have far-reaching effects on regional trade in West Africa, with Ghana being one of the key countries impacted by this move. Yofi Grant, the CEO of the Ghana Investment Promotion Centre, shared insights on the situation during an interview with CNBC Africa. Grant expressed concern over the border closure, highlighting the significant economic losses experienced by businesses in Ghana due to the restrictions on exports to Nigeria. He emphasized the long-standing positive relationship between the two countries and called for a swift resolution to the current trade barriers. The Ghanaian government's response to Nigeria's border closure has been characterized by a sense of disappointment and urgency. Grant stressed the importance of maintaining open channels for trade between Ghana and Nigeria, citing the mutual benefits that both countries have historically enjoyed. Addressing the customs issues raised by Nigeria, Grant called for increased dialogue and cooperation among West African nations. He emphasized the need for a unified approach to resolving trade challenges and creating opportunities for growth within the region. Grant expressed optimism that a resolution would be reached soon, allowing for the resumption of trade between Ghana and Nigeria. While attending the Africa-Russia Forum in Sochi, Grant also shed light on the growing interest among Russian investors in Ghana. He highlighted agriculture as a key sector for potential collaboration, noting the importance of value addition and sustainable partnerships in driving economic growth. The forum in Sochi, which brought together African heads of state and Russian officials, signals a strategic shift in Russia's approach to engaging with Africa. Grant underscored the potential for Africa to emerge as a major player in the global economy, with vast resources and a growing population making it an attractive investment destination. As the world looks towards Africa as a key market for the future, Grant emphasized the need for meaningful partnerships that prioritize mutual benefit and respect. He pointed to the diverse range of countries, including China, the United States, India, and Japan, seeking to deepen their ties with the African continent. In conclusion, Grant's insights underscore the interconnected nature of global trade and the imperative for African nations to collaborate and leverage their collective strengths for sustainable development. As negotiations continue to address the challenges posed by Nigeria's border closure, the resilience and determination of countries like Ghana highlight the potential for a brighter future built on cooperation and shared prosperity.