Board appeals for calm at Lagos Trade Fair complex

The Lagos International Trade Fair Complex Management Board (LITFCMB) has called for an end to the unrest between traders and youth representatives from the Auto Spare Parts and Machinery Dealers Association (ASPMDA). The appeal followed concerns over the activities of Chinese retail traders operating within the complex. The board is working with stakeholders to resolve the dispute while committing to a fair and lawful business environment for both Nigerian and international investors.

In recent weeks, hundreds of traders at the complex shut down their businesses in protest against what they perceived as a Chinese takeover of retail trading and the displacement of local traders. The police, led by Area Commander ACP Chike Oti, quickly restored order to the area.

The board's appeal highlights concerns over competition, market access, and regulatory compliance within one of Nigeria’s leading commercial hubs, where local traders have been active for years. LITFCMB CEO Veronica Safiya Ndanusa addressed the situation in a statement, acknowledging the contributions of Nigerian traders to the complex’s development.

She emphasized that the concerns of local traders deserved attention, but also stressed that protecting local businesses and encouraging legitimate foreign investment were not opposing goals.

Ndanusa affirmed Nigeria's commitment to honoring its bilateral trade agreements and welcomed foreign investors who adhere strictly to the country’s legal framework. She reassured foreign businesses operating lawfully within the complex that their investments, property, and safety would be protected. The LITFCMB boss urged ASPMDA members and youth representatives to refrain from taking matters into their own hands, emphasizing that open dialogue was essential for finding a lasting solution.

The LITFCMB's involvement comes amid broader concerns among local traders regarding the potential effects of foreign participation in domestic retail markets, especially when competition and compliance issues arise. The management did not disclose specific measures they are considering to address ASPMDA's concerns or provide a timeline for resolving the dispute.