Local traders and importers across Nigeria are mounting protests as foreign nationals, particularly from China and India, take over key sectors of the economy, causing an estimated annual loss of N130 billion and forcing many Nigerian businesses to close.
In Lagos, traders at the Trade Fair market held placards accusing Chinese retailers of selling directly to consumers at prices close to wholesale rates. They said the practice disrupts the traditional distribution chain—manufacturers to wholesalers to retailers—making it difficult for local retailers to compete and threatening the livelihoods of thousands of workers.
Stakeholders argue that the federal government’s fiscal laxity allows foreign investors to operate in sectors traditionally dominated by Nigerians, including freight forwarding, construction, mining, agriculture, manufacturing and bonded terminal operations. They say the free‑zone law, intended to add value to imported cargo before export, is being sidestepped as foreigners bring finished products into the zone and sell them in domestic markets, evading duties.
Farmers are also feeling the squeeze. Chinese operators now source agricultural produce such as cashew nuts, sesame seeds, cocoa, palm kernel and shea butter for export, drawing sales away from local buyers. The result is a shift in the market that many farmers prefer to sell to foreign buyers rather than to domestic traders.
Similar concerns have surfaced in Kenya, where over 1,000 traders protested in Nairobi in February 2023 after a Chinese‑owned retail outlet offered goods at roughly half the price of local traders. President William Ruto responded on 2 September 2026, ordering enforcement against foreigners operating in small‑scale businesses and stressing that foreign investment should create jobs and expand production rather than compete with Kenyans in retail.
“Neither the Chinese operators nor the government should be entirely blamed for the situation,” said Alhaji Abdulazeez Mukaila, Managing Director of Mikky Excellency Nigeria Limited. “The bigger problem is inadequate advocacy to make the government understand that granting permits to foreign nationals in the name of attracting investment could undermine local traders, businesses and the wider interests of Nigerians.”
Stakeholders call on the federal government to reassess its policies on foreign investment, arguing that unchecked entry of foreign businesses threatens local employment, erodes the value chain, and undermines Nigeria’s economic sovereignty.
<small>Source: The Sun Nigeria — read the original story there.</small>
