By Collins Yakubu-Hammer
The Lagos International Trade Fair Complex Management Board (LITFCMB) has reiterated its commitment to sustaining a fair and lawful business environment for both Nigerians and foreign investors operating within the complex.
The Executive Director and Chief Executive Officer of the Board, Veronica Ndanusa stated this in a statement made available to the News Agency of Nigeria (NAN) on Thursday in Abuja.
She explained that this followed the concern raised by the Auto Spare Parts and Machinery Dealers Association (ASPMDA) over activities of Chinese retail traders in the complex.
Ndanusa emphasised that Nigerian traders have over the years built their livelihoods within the market.
“The concerns relating to fair competition, market access and regulatory compliance deserves attention.
“The Board is committed to creating an enabling environment for both local and foreign investors.
“This is in line with its mandate of promoting trade and investment, managing infrastructure and supporting the development of the complex as a commercial hub”, Ndanusa said.
According to the LITFCMB boss, Nigeria’s openness to legitimate foreign investment and the protection of Micro, Small and Medium Enterprises (MSMEs) are not conflicting objectives.
“It is rather complementary component of the country’s economic development agenda”.
She maintained that the business activities of both parties should complement each other.
Ndanusa added that such would contribute to Nigeria’s broader economic goals and assist the international communities operating lawfully within the complex so that their investments, property and physical safety remain protected.
“As a global player, Nigeria honours its bilateral trade agreements and continues to welcome foreign investors that operate strictly within our statutory framework.”
She appealed to ASPMDA members and youth representatives to remain calm and avoid taking laws into their own hands.
The LITFCMB boss further noted that the management was engaging stakeholders to find a lasting resolution to the issue.(NAN)
Edited by Yakubu Uba