Ghana–Nigeria trade ties face strain as legal dispute raises investor concerns

A commercial dispute in Nigeria involving a Ghanaian-owned real estate development in Abuja has sparked concern within Ghana’s investment community, amid warnings that the matter could strain economic relations between West Africa’s two largest Anglophone economies if not carefully managed.

The case centres on River Park Estate, a major residential project in Nigeria’s federal capital, owned by Ghanaian business interests linked to Sir Dr. Sam Jonah.

Although the dispute is currently before a Nigerian court, allegations that actions affecting the project have continued despite the ongoing litigation have heightened anxieties about due process and institutional conduct.

Analyst Yaw Barima said the situation demands measured but decisive engagement by the Government of Ghana to safeguard the interests of Ghanaian businesses operating abroad.

“There is a clear responsibility to protect national investment credibility where credible concerns about fairness arise. This is not confrontation, but prudent economic diplomacy,” he said.

Ghana and Nigeria share deep commercial ties. Bilateral trade between the two countries runs into several billions of dollars annually, with Nigeria consistently ranking among Ghana’s top trading partners.

Ghana, for its part, hosts thousands of Nigerian-owned enterprises, spanning banking, telecommunications, retail trade, manufacturing and entertainment. Both countries are also central to regional integration efforts under ECOWAS and the African Continental Free Trade Area (AfCFTA).

Mr. Barima noted that Ghana’s reputation for a stable legal and regulatory environment has long been a critical factor underpinning Nigerian business success in the country.

“Property rights are respected and contracts are enforced. That goodwill has supported investment inflows for decades, but it is not inexhaustible,” he warned.

He argued that Nigerian businesses operating in Ghana have a direct stake in the outcome and should play an active role by urging restraint and respect for judicial processes at home.

“They are uniquely positioned as responsible stakeholders. Silence risks allowing damaging perceptions of injustice to harden,” Barima said.

Beyond the immediate dispute, analysts caution that the broader risk lies in investor sentiment. Ghana and Nigeria together account for a significant share of West Africa’s GDP, and any deterioration in confidence could ripple across the sub-region, affecting cross-border investment flows, project financing costs and long-term integration goals

“When justice appears selective, commerce becomes fragile. Unchecked perceptions can shape public opinion, influence regulatory behaviour and strain bilateral relations. Ghana and Nigeria are too economically interdependent to allow a single dispute to escalate,” Mr. Barima said.

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