The Lagos International Trade Fair Complex Management Board (LITFCMB) has appealed for calm among traders and youth representatives of the Auto Spare Parts and Machinery Dealers Association (ASPMDA) following concerns over the activities of Chinese retail traders operating within the complex
The board said it was engaging stakeholders to resolve the dispute while reaffirming its commitment to a fair and lawful business environment for both Nigerian and foreign investors
It would be recalled that hundreds of traders shut down businesses at the complex in protest to what they described as Chinese incursion into retail trading and cornering customers belonging to local traders
But in a swift reaction, the Police from Area E Command led by its Area Commander, ACP Chike Oti, swung in and restored normalcy to the area
The dispute highlights concerns over competition, market access and regulatory compliance in one of Nigeria’s major commercial hubs, where local traders have operated their businesses for years
Speaking on the tension in the market, the Executive Director and Chief Executive Officer of LITFCMB, Veronica Safiya Ndanusa, in a statement issued on Thursday appealed for calm among traders and youth representatives of the Auto Spare Parts and Machinery Dealers Association (ASPMDA)
Ndanusa acknowledged the contribution of Nigerian traders to the development of the complex, stressing that their concerns deserved attention
She, however, said the protection of local businesses and the promotion of legitimate foreign investment were not conflicting objectives
According to her, both should form part of Nigeria’s broader economic development agenda, provided that businesses operate within the country’s statutory framework
“Nigeria honours its bilateral trade agreements and continues to welcome foreign investors that operate strictly within our statutory framework,” she said
The LITFCMB boss said the board was committed to promoting trade and investment, managing infrastructure and supporting the development of the complex as a commercial hub
She assured foreign businesses operating lawfully within the complex that their investments, property and physical safety would remain protected
Ndanusa urged ASPMDA members and youth representatives to avoid taking the law into their own hands, stressing that dialogue remained necessary to achieve a lasting resolution
The board’s intervention comes amid wider concerns among local traders about the impact of foreign participation in domestic retail markets, particularly where questions of competition and compliance arise
The management did not disclose specific measures being considered to address ASPMDA’s complaints or provide a timeline for resolving the dispute