ABUJA – The Lagos International Trade Fair Complex Management Board (LITFCMB) has reaffirmed its commitment to maintaining a fair and lawful trading environment for both Nigerian and foreign businesses operating in the complex, after concerns were raised by the Auto Spare Parts and Machinery Dealers Association (ASPMDA) over the activities of Chinese retail traders.
Executive Director and Chief Executive Officer Veronica Safiya Ndanusa issued a statement on Thursday, acknowledging that Nigerian traders have built their livelihoods in the complex over the years and that issues of fair competition, market access and regulatory compliance must be addressed.
She said the Board’s mandate is to promote trade and investment, manage infrastructure and develop the complex as a commercial hub, and that it remains committed to creating an enabling environment for local and foreign investors alike. “Nigeria honours its bilateral trade agreements and continues to welcome foreign investors that operate strictly within our statutory framework,” Ndanusa added.
Ms Ndanusa stressed that the business activities of local and foreign traders should complement each other and contribute to broader economic goals, assuring international businesses that their investments, property and safety are protected. She urged ASPMDA members and youth representatives to remain calm and not take the law into their own hands, while confirming that management is engaging stakeholders to find a lasting solution.
<small>Source: Vanguard News — read the original story there.</small>
