Ghana has initiated international arbitration proceedings to settle its long-standing maritime border dispute with neighboring Togo, the presidency announced Friday in Accra, after lengthy negotiations to resolve the dispute failed.

Accra has notified Lomé that the border delimitation will be carried out within the framework of the United Nations Convention on the Law of the Sea, the presidency said in a statement.

"This decision follows attempts at border negotiations that have been ongoing for eight years without reaching a consensus," the statement added, stressing that this initiative aims to prevent an escalation of tensions and promote an amicable agreement.

This move follows the legal action previously initiated by Ghana against Ivory Coast, which was settled by a decision of the International Tribunal for the Law of the Sea in 2017, reflecting a growing urgency for Accra to ensure legal security over its offshore waters, which are essential to its economy.

While border disputes in the Gulf of Guinea are often associated with oil, a source from the Ghana Maritime Authority points out that the issues are broader.

The Ghanaian offshore zone, which spans tens of thousands of square kilometers, includes not only oil blocks, but also significant fishing areas.

The maritime sector provides most of the fish consumed in the country and supports hundreds of thousands of people on the coast, while approximately 90% of Ghanaian trade passes through the ports of Tema and Takoradi.

Clearly established boundaries are also crucial for energy sector investors, who are reluctant to drill in contested waters.

Oil production has become an important source of revenue for Ghana since commercial exploitation began in 2010.

Togo claims a maritime border disputed by Ghana, increasing the risk of tensions.