National Issues
The Contribution Og China To The Infrastructural Development Of States In Nigeria And The Increasing Numbers Of Chinese Retail Stores In Lagos -By Prince Samuel Adesegun Egunjobi
Many Lagosians have also questioned the rationale behind the Igbo business owners protesting against the direction of business development in the state, and why can’t they relocate the protest to Anambra, Enugu and other South East States?
The contribution of Chinese owned manufacturing company to development across commerce, construction, textile, engineering, mining, defence e. t. c in Nigeria, have shown that the Chinese are reliable partners but investment into local retail trade have raised concerns from local retailers and other shop owners.
The gradual expansion of Chinese owned retail stores in some markets in Lagos have led to protest from the local shop owners demanding that the government should halt the growing Chinese stores, that the Chinese should only run their factories and production system but leave the local distribution and other retail businesses for the locals.
Many people have question the Nigerian government for allowing the operation of Chinese traders at the retail market level and the failure to protect local traders, while some have also back the Chinese traders and emphasizing on free market economy.
In a free market economy, there is free entry and exit of participants, some argued that the igbo traders are trying to monopolize the market in Trade fair and other parts of Lagos State, and afraid of real competition as the Chinese retailers are selling at cheaper prices according to reports and eyewitnesses.
If the Igbo’s and yoruba’s can owned and run retail stores in China, Can Chinese too set up shops and run their retail businesses in Nigeria?
Many Lagosians have also questioned the rationale behind the Igbo business owners protesting against the direction of business development in the state, and why can’t they relocate the protest to Anambra, Enugu and other South East States?
It is advisable that the Ministry of Trade, Commerce and Industry should regulate involvement of foreigners in retail businesses in Nigeria in order to protect local retailers and markets, and also monitor unfair trade practices among locals bringing tribal supremacy into businesses for the purpose of control and domination, without allowing fair competition and allowing the determinants of demand & supply to determine the price of commodities.
Prince Samuel Adesegun Egunjobi, MBA
