ABUJA — The Lagos International Trade Fair Complex Management Board, LITFCMB, has reiterated its commitment to maintaining a fair, lawful and conducive business environment for both Nigerian and foreign investors operating within the complex.
The Executive Director and Chief Executive Officer of the Board, Veronica Safiya Ndanusa, gave the assurance in a statement on Thursday while responding to concerns raised by the Auto Spare Parts and Machinery Dealers Association, ASPMDA, regarding the activities of Chinese retail traders in the market.
Ndanusa recognised the significant role Nigerian traders have played in building livelihoods within the complex over the years, stressing that concerns over fair competition, access to the market and compliance with regulations must be properly addressed.
She said the agency would continue to provide an enabling environment for local and international investors, in accordance with its mandate of promoting trade and investment, managing infrastructure and transforming the complex into a viable commercial hub.
According to her, Nigeria’s policy of encouraging legitimate foreign investment can coexist with efforts to safeguard the interests of Micro, Small and Medium Enterprises, MSMEs, as both are important to the nation’s economic development.
She added that the activities of Nigerian and foreign traders should be mutually beneficial and support wider economic objectives. She also assured international businesses operating legally within the complex that their investments, property and safety would continue to receive protection.
“Nigeria honours its bilateral trade agreements and continues to welcome foreign investors that operate strictly within our statutory framework,” she said.
Ndanusa urged members of ASPMDA and youth representatives to remain peaceful and refrain from taking the law into their own hands, assuring them that management was consulting with relevant stakeholders to resolve the matter permanently.
