The Lagos International Trade Fair Complex Management Board has moved to calm mounting tensions over foreign retail competition, assuring local traders that it will maintain a lawful, fair, and conducive operating environment within the commercial hub.
Traders Raise Alarm Over Foreign Influx
The assurance comes in response to formal concerns raised by the Auto Spare Parts and Machinery Dealers Association regarding the growing presence and commercial activities of Chinese retail traders operating inside the massive trade complex.
ASPMDA, a body representing local operators within the facility, had flagged the retail influx as a threat to domestic MSMEs trying to sustain their livelihoods in the market.
Management Weighs Heritage Against Growth
Veronica Safiya Ndanusa, the Executive Director and Chief Executive Officer of the LITFCMB, acknowledged the historical contributions of Nigerian traders in building livelihoods within the complex over the years.
In a statement issued on Thursday, Ndanusa stressed that legitimate concerns regarding fair market access, competitive balance, and strict regulatory adherence must be addressed through proper channels rather than unrest.
Balancing Policy and Domestic Safeguards
According to Ndanusa, Nigeria’s overarching economic policy of welcoming foreign investment can comfortably coexist with statutory safeguards designed to protect Micro, Small and Medium Enterprises.
She emphasized that both domestic and international stakeholders remain critical pillars of national economic development, and argued that commercial activities across the complex must yield mutual benefits that support broader national objectives.
Legal Protections for Compliant Investors
While addressing local apprehensions, the agency also extended assurances to international businesses conducting operations within the facility in full compliance with the law.
Ndanusa confirmed that foreign investors operating strictly within Nigeria’s statutory framework would continue to receive full protection for their investments, properties, and safety.
“Nigeria honours its bilateral trade agreements and continues to welcome foreign investors that operate strictly within our statutory framework,” Ndanusa stated.
High-Level Consultations Underway
Following the initial friction raised by the dealer association, the LITFCMB leadership directly appealed to members of ASPMDA alongside youth representatives in the area.
Ndanusa urged all aggrieved parties to maintain public peace and avoid taking matters into their own hands, confirming that management is actively engaged in consultations with relevant stakeholders to engineer a permanent resolution to the dispute.
