The Lagos International Trade Fair Complex Management Board has reaffirmed its commitment to maintaining a fair and lawful business environment for both Nigerian and foreign investors operating within the complex.
This assurance was contained in a statement issued on Thursday by the Board’s Executive Director and Chief Executive Officer, Veronica Safiya Ndanusa, in response to concerns raised by the Auto Spare Parts and Machinery Dealers Association, ASPAMDA, over the activities of Chinese retail traders within the complex.
Ndanusa acknowledged that Nigerian traders have, over the years, built their livelihoods within the market, noting that concerns bordering on fair competition, market access and regulatory compliance deserved serious attention.
She said the Board remained committed to fostering an enabling environment for both local and foreign investors, in keeping with its mandate to promote trade and investment, manage infrastructure, and support the development of the complex as a commercial hub.
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According to the LITFCMB boss, Nigeria’s openness to legitimate foreign investment and the protection of Micro, Small and Medium Enterprises are not conflicting objectives, but complementary components of the country’s broader economic development agenda.
She stressed that the business activities of both local and foreign traders should complement one another and contribute to the nation’s overall economic growth, while assuring international investors operating lawfully within the complex that their investments, property and physical safety remain protected.
“Nigeria honours its bilateral trade agreements and continues to welcome foreign investors that operate strictly within our statutory framework,” she said.
The LITFCMB boss further appealed to ASPAMDA members and youth representatives to remain calm and refrain from taking laws into their own hands, disclosing that the Board’s management was already engaging relevant stakeholders to find a lasting resolution to the matter.
Crediblenewsng.com
