Benin Republic agrees to become the 37th State of Nigeria
- Benin is in talks with Nigeria to become a state of the Federal Republic
- The Nigerian Foreign Affairs Minister says talks began years ago
- The Benin-Nigeria merger will be one of its kind in the world
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The Federal State of Nigeria has revealed that the Republic of Benin wants to be added as the 37th State of Nigeria.
According to the Foreign Affairs minister of Nigeria, Geoffery Onyeama, Benin’s President Patrice Talon made known the offer when he paid a visit to President Mahamudu Buhari some days ago.
“The President of Benin said as far as they are concerned, they want (not just saying it like that) but in reality, Benin should be the 37th state of Nigeria. We should really be one. They charged us to come together at ministerial level, to work out a framework for a sustainable relationship,” he stated.
Source: Facebook
Benin-ECOWAS impasse
The Managing Director of Interplast, Hyssam Fakhry, says manufacturing firms in Ghana are losing billions of cedis in revenue due to challenges with the export of goods to Benin.
As Benin has stopped implementing the ECOWAS Trade Liberalization Scheme for the past six months, the ECOWAS member state has in effect been charging customs duties on products exported from Ghana, a move which has adverse effects on the promotion of regional economic integration.
As Benin has stopped implementing the ETLS for the past six months, the ECOWAS member state has in effect been charging customs duties on products exported from Ghana, a move which has adverse effects on the promotion of regional economic integration. One of the main objectives of ECOWAS is to promote the economic integration of the region by establishing, among other things, a free trade area.
The instrument created for this purpose is the ETLS, which ensures the free movement of products within the region without the payment of customs duties and taxes.
Should the situation elapse, Hyssam Fakhry, has warned of job losses and the dissipation of clientele from the Francophone market if urgent interventions are not taken.
“We have no option but to lay of staff. Our profits too will fall dramatically and this will affect the Ghanaian economy,” he warned.
The ETLS is a tool which aims at the operationalization of the Free Trade Area. The ETLS mechanism ensures the free movement of originating products without the payment of customs duties and taxes of equivalent effect on importation into ECOWAS Member States.
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Source: YEN.com.gh
