Trade Fair leaders, Minister and ED/CEO plus the Amuwo Odofin LGA chairman, Prince Lanre Sanusi on 11/3/26
The truth of the matter surrounding the August working visit to the largest conglomeration of business owners, plaza developers, international business proprietors, importers, exporters and manufacturers in Africa and Nigeria in particular, that is, the Lagos International Trade Fair complex on Badagry Expressway, by the Minister of Industry, Trade and Investments, Dr. Barr. Jumoke Oduwole on Wednesday last week leaves much to be unveiled.
Why?
Only last week Monday evening, the Chairman of Lagos Trade Fair Stakeholders Association (LTFSA), Chief Eric Ilechukwu got a letter from the minister suddenly informing him to inform his members that the Minister is coming to address them in two days, that is on Wednesday. The issues she is coming to address them on were not mentioned.
However, ahead of the visit, Business Hilights got unconfirmed rumours from some business owners that the Minister MAY be coming to handover the complex to the host Local Government Area, under the chairmanship of Mr. Lanre Sanusi upon the fact that the complex is not a market but shopping malls and plazas under the statutory control and management of Lagos International Trade Fair Complex Management Board (LITFCMB), a substantive agency of the Federal Ministry created by the Act establishing the complex. The Lagos International Trade Fair Complex Management Board Act (originally 1993, later CAP L12 LFN 2004) officially established the Management Board to maintain and manage the complex, vesting all land and infrastructure ownership directly under the Federal Government of Nigeria. The board is empowered to manage commercial activities and leases under the Federal Ministry of Industry, Trade and Investment.
But in the surveillance and leadership intelligence of the LTFSA, they did not only shutdown the market on the day of her visit, they had taken the same visiting minister to court and duly served her documents in litigation against any form of handover of their hard-earned investments to someone who never owned a plaza, built clusters or have a fair knowledge of what is going on the entire complex.
Whereas, analysts say one of the clear signs that the Minister was actually coming for the handover was the presence of the Local Government Chairman alongside with her and several officials of the LGA, the funniest thing or confusion was the perfect exclusion of the LGA chairman in the shared programme of the day’s event.
Observers say having received the court documents, it would be contempt of court if the minister had gone ahead to say anything about handover. Accordingly, she perfectly voided anything about the handover and changed her official address to telling the anxiously waiting stakeholders that she came to hear from them and see where they are doing business to find out how the federal government can come in to assist them.
Having came up with this code, stakeholders aligned immediately and deployed the chairman of BoT at Balogun Business Association (BBA), Chief Okey Ezeibe to present their challenges as demanded by the visiting Minister after all.
In his presentation, Chief Ezeibe, appealed to the federal government to address the issue of formalizing businesses at the complex into a formal sector operators because they are not markets but shopping malls and plazas which markets do not have.
He also raised the challenge of multiple checkpoints along the Apapa-Mile 2 expressway and the Mile 2-Badagry expressway.
He noted that the checkpoints contribute to inflation and hinder business activities.
“These different layers of checkpoints, coupled with the huge ground rent we pay contributes to inflation. We urge the government to streamline all the taxes. We are law-abiding citizens and we want to make a living for ourselves,” he added.
On a serious note, he warned that the federal government should never think of handing over their massive investments to area boys and touts in any guise including the local government or state to avoid unprecedented trouble and breakdown of law and order.
He cried over the failed 5km serving road in the complex and power crisis frustrating ease of doing business in the complex.
Responding after a tour of the complex, the Minister disclosed plans to collaborate with the stakeholders to establish a world-class manufacturing hub at the Lagos Trade Fair Complex.
According to her, this strategic partnership aims to boost Nigeria’s industrialization, create jobs, and increase the country’s export capacity to neighboring West African countries.
She emphasised the importance of partnering with the private sector to drive economic growth and development.
Oduwole urged manufacturers among the traders to repatriate their investments back to Nigeria, noting that the partnership would be a significant step towards achieving the Federal Government’s Economic Recovery and Growth Plan (ERGP).
She was quick to observe amongst other things that “Most of you are highly placed businessmen who would prefer to operate low, maybe due to taxation or other factors. But we know that some of you are big industrialists with companies abroad, your contributions to Nigeria’s GDP and to the economy of other countries in the region are also noted. I urge you to start considering relocating your factories back to Nigeria.
“The Governor of Lagos has called me to look into activities around the Trade Fair. The Governor of Imo State has also drawn my attention to it. The federal government is interested and our party, the All Progressive Congress (APC) is also interested.
“I have personally noted your request which has to do with streamlining of government taxes, upgrade of infrastructures and others. I promise that I will look into it and this is why I personally took notes of all your requests,” she said.
Business Hilights gathered that the ERGP aims to diversify the country’s economy and reduce its reliance on oil exports.
However, for the fact that the Minister had maintained sealed lips on handing over, the chairman of Stakeholders, Chief Eric Ilechukwu in his remarks claimed that they shut down the complex as a mark of honour for the visiting minister, even though what was on the minds of everyone was anger over rumoured handover.
Earlier in her welcome address, the Executive Director (ED) and CEO of the complex, Barr. Veronica Safiya-Ndanusa, thanked the Minister for finding time to visit the complex, which according to her, serves the business interest of, not only Nigerians but those from other Africa countries.
She explained that the federal government under the Renewed Hope Agenda of the President is highly interested in the wellbeing of business activities at the complex and will listen to the cries of the stakeholders for facelift in the complex to grow ease of doing business.
Efforts by Business Hilights to speak with the Minister and or the Chairman of Amuwo Odofin LGA, Lanre Sanusi on the rumoured handing over to local government failed as both of them never entertained any form of media interview after the meeting.
Besides, many of the Local Government Staff who came along with their chairman were seen wearing very long faces of disappointments even as many of them were arguing amongst themselves in their local language as everybody disperse.
However, followers of government ways of doing things say for the fact that what may look like Plan A of the government may have failed last Wednesday, does not mean that Lagos State Government has given up in its determined hostile takeover of the complex by fronting the Amuwo Odofin LGA especially now their son is Mr. President and their daughter is the supervising Minister.
