By Maurice Quansah

ACCRA, March 19 (Reuters) - The Ghana Football Association (GFA) said a ruling that Nigeria and Ghana should co-host next year's African Nations' Cup finals had the advantage of reducing the financial burden for host countries.

``It is a laudable novelty idea which has created a precedent for the continent's elite tournament,'' GFA chairman Alhaji Jawula said on Friday.

Earlier, an unnamed Nigerian government official, quoted by the News Agency of Nigeria (NAN), called the co-hosting decision by the Confederation of African Football (CAF) ``an insult to Nigeria.''

He said his country's facilities for the World Youth Cup it is hosting from April 3-24 at eight venues should give it ``an edge over Ghana or any other country.''

However, Jawula said the move would allow CAF to test the concept of co-hosting and had the advantage of reducing the financial burden for host countries.

CAF had announced on Monday that Ghana and Nigeria would share the 16-nation biennial event. It said its decision was based on the fact that both Ghana and Nigeria last hosted the competition almost 20 years ago.

CAF stripped Zimbabwe of the right to host the tournament last month, saying its facilities were not up to scratch.

It said no country could carry the financial burden of hosting the Cup alone at such short notice.

Ghana's leading bi-weekly sports magazine ``Graphic Sports'' also favoured one country hosting the event. In its latest edition the paper called CAF's ruling ``nebulous.''

But Jawula said he had expected CAF to opt for co-hosting.

``If CAF in its wisdom says it has taken three years and Zimbabwe is still not ready and they (CAF) want to make things lighter for us by this method I think we have nothing to worry about,'' Jawula said.

As hosts, Ghana and Nigeria will qualify automatically for the finals. Egypt, the defending champions, also has a guaranteed place in the finals.

Ghana will host the CAF Congress, which precedes the tournament, and the opening ceremony. Nigeria will host the final. Each country will host two groups.