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Nigerian companies invest $6.1b into Ghana’s economy since 1994

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With the springing up of Nigerian companies in Ghana, investments into the country is said to be growing.

These Nigerian firms are seen in all sectors of the Ghanaian economy ranging from banking, insurance, telecommunications, services, tourism, agriculture, manufacturing, building, liaison, general and export trade sectors among others.

The Ghana Investment Promotion Centre (GIPC) has disclosed that total investments made by Nigerian companies in Ghana have hit $6.1 billion (N976 billion) since September 1994.

According to the Nigerian Guardian, November 11, 2011, Mr. George Aboagye, Chief Executive Officer of GIPC made the disclosure at the Ghana-Nigeria Business Forum held at the on-going 2011 Lagos International Trade Fair.

Mr. Aboagye, the publication says, projected that Nigerian investment profile into Ghana would grow by $500 million in 2015.

However, Ghanaians’ investments in Nigeria are around $1.5 billion, according to the GIPC.

“Nigeria and Ghana are both countries in the west coast of Africa with business friendly environments. As at today, Nigeria’s total number of registered projects in Ghana from September 1994 to June 2011 is 184, an estimated amount totalling $5.1 billion,” the Guardian quoted Mr. Aboagye as saying.

“Nigeria was Ghana’s fifth and sixth largest source of investment in terms of value and number of projects registered respectively and both countries’ relationship had been very warm, cordial and beneficial,” he said.

The 2011 Lagos International Trade Fair, which began on November 4 is expected to end on November 13.

By Ekow Quandzie

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One comment

  1. LIES!!! We are not fools to believe these lying criminals!!