The responsibility of the LITFCMB is to maintain an environment where legitimate local and foreign businesses can operate in accordance with Nigerian laws and regulations
By Mmesoma Onwuka
The management of the Lagos International Trade Fair Complex has appealed for calm following concerns raised by Nigerian traders over the activities of Chinese retail operators within the complex.
The Executive Director and Chief Executive Officer of the Lagos International Trade Fair Complex Management Board (LITFCMB), Veronica Safiya Ndanusa, said the board was engaging relevant stakeholders to address the concerns and ensure that commercial activities at the complex remain lawful and orderly.
Ndanusa made this known in a statement on Thursday while responding to concerns raised by the Auto Spare Parts and Machinery Dealers Association (ASPMDA) over the presence and operations of Chinese retail traders within the complex.
She acknowledged the longstanding contribution of Nigerian traders to the complex, stressing that issues relating to competition, market access and compliance with applicable regulations must be properly addressed.
According to her, the responsibility of the LITFCMB is to maintain an environment where legitimate local and foreign businesses can operate in accordance with Nigerian laws and regulations.
Ndanusa noted that attracting foreign investment and protecting the interests of Micro, Small and Medium Enterprises (MSMEs) were not mutually exclusive, adding that both could be pursued as part of Nigeria’s broader economic development objectives.
She further stressed that businesses operating within the trade fair complex must contribute positively to the Nigerian economy.
The LITFCMB chief executive also assured foreign investors and other international businesses that comply with Nigerian laws that their investments, property and safety would be protected.
“Nigeria honours its bilateral trade agreements and continues to welcome foreign investors that operate strictly within our statutory framework,” Ndanusa said.
She appealed to members of ASPMDA and youth representatives to exercise restraint and refrain from actions capable of disrupting peace and order within the complex.
Ndanusa said the board would sustain consultations with the relevant stakeholders to resolve the issues and develop a sustainable framework for businesses operating at the Lagos International Trade Fair Complex.