By John Alechenu
ABUJA — The Lagos International Trade Fair Complex Management Board, LITFCMB, has reaffirmed its commitment to sustaining a fair and lawful business environment for Nigerian and foreign investors operating in the complex.
The Executive Director and Chief Executive Officer of the Board, Veronica Safiya Ndanusa, stated this in a statement on Thursday following concerns raised by the Auto Spare Parts and Machinery Dealers Association, ASPMDA, over the activities of Chinese retail traders in the market.
Ndanusa acknowledged that Nigerian traders had over the years built their livelihoods in the complex, noting that issues surrounding fair competition, market access and regulatory compliance deserved attention.
She said the agency remained committed to creating an enabling environment for both local and foreign investors in line with its mandate to promote trade and investment, manage infrastructure and develop the complex as a commercial hub.
According to her, Nigeria’s openness to legitimate foreign investment and the protection of Micro, Small and Medium Enterprises, MSMEs, are complementary to the country’s economic development agenda.
She said the business activities of local and foreign traders should complement each other and contribute to broader economic goals, assuring international businesses operating lawfully within the complex that their investments, property and safety remained protected.
“Nigeria honours its bilateral trade agreements and continues to welcome foreign investors that operate strictly within our statutory framework,” she said.
Ndanusa appealed to ASPMDA members and youth representatives to remain calm and avoid taking the law into their hands, saying management was engaging stakeholders to find a lasting solution to the issue.
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