Foreign businesses reshaping Nigerian commerce, SERC warns

The Sea Empowerment and Research Center (SERC) has issued a warning about the growing influence of foreign businesses on Nigeria's commerce. The research group highlighted the changing landscape of international commerce, where integrated global supply chains are challenging the conventional business model. This model typically involves foreign manufacturers producing goods, Nigerian importers bringing them into the country, clearing agents processing them, wholesalers distributing them, and retailers selling them to consumers.

SERC pointed out that recent events, such as the protest at the Lagos International Trade Fair Complex on September 15, 2026, should not be seen as a simple market dispute. Instead, the group emphasized that these developments represent a strategic warning about the evolving structure of international commerce and competition in Nigeria.

The research center also noted that manufacturers and international businesses are increasingly capable of combining various aspects of the supply chain, including production, financing, shipping, warehousing, digital commerce, distribution, and retail. This transformation is not exclusive to China, but part of a broader shift driven by globalization, e-commerce, technology, logistics integration, and advanced supply-chain management.

SERC questioned why foreign businesses are entering the Nigerian market. The group argued that the fundamental question for Nigeria is not merely about the presence of foreign businesses, but rather why Nigerian businesses are still predominantly operating at the trading and distribution level. Despite Nigeria's market size, resources, entrepreneurial capacity, and regional access, the country has largely remained a hub for importation and resale.

To address this issue, SEREC called for Nigeria to transition from an economy heavily reliant on importation and resale towards one driven by production, value addition, manufacturing, logistics, branding, and exports. The organization highlighted that the African Continental Free Trade Area, Nigeria's Free Trade Zone system, and the country's large domestic market present important opportunities for this economic transition.

SEREC stressed that the goal is not to isolate Nigeria from foreign competition, but to make Nigerian enterprises competitive within the national market and across Africa.