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By Rukayat Moisemhe
Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, has pledged to address infrastructure and operational challenges hindering businesses at the Lagos International Trade Fair Complex.
Oduwole made the pledge during a visit and inspection of the complex along Badagry Expressway on Wednesday in Lagos.
The News Agency of Nigeria (NAN) reports that the minister met traders, importers and entrepreneurs to discuss challenges affecting business operations within the market.
She said government recognised the vital role of local investors and businesses in driving trade and economic growth, noting their concerns had been duly acknowledged.
Oluwole said: “We have been talking about attracting foreign investments, but local investments must also thrive.
“We will work with you on the logistics and infrastructure challenges raised to encourage more people to trade here.”
She assured traders that government would address the issues progressively, stressing that practical solutions would be implemented.
“We will tackle these issues one after another, and I assure you that solutions will be provided,” she said.
Earlier, President of the Lagos International Trade Fair Complex, Mr Okechukwu Ezigbo, decried the poor infrastructure, multiple taxation and extortion by non-state actors.
Ezigbo warned that failure to urgently address the challenges could force many businesses to shut down investments worth trillions of naira.
He said traders required stronger government support to sustain their contributions running into billions of naira annually in government revenue.
Ezigbo noted that traders and investors had invested heavily in developing the complex after years of neglect.
“This market feeds the entire West African region, but due to infrastructure decay we are losing customers to Cotonou and Seme,” he said.
He also decried widespread extortion along the trade corridor linking Seme border and the market.
“There are about 22 checkpoints between Seme and here, run by state and non-state actors, and we are extorted at each point,” he said.
Ezigbo urged government to remove illegal checkpoints and curb activities of touts extorting traders along the corridor.
He also appealed for improved road networks, stable electricity supply and water infrastructure within the complex to ease business operations.
Ezigbo added that hostile policies and demolition of some market structures last year caused heavy financial losses for traders.
He said improving the business environment would encourage local manufacturing and reduce reliance on imports. (NAN)
Edited by Kamal Tayo Oropo
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