The CPPE has raised concerns over the growing presence of foreign traders, particularly Chinese nationals, in Nigeria’s retail marketIt warned that the trend could put pressure on Nigerian businesses and jobs, especially in sectors where local traders already have strong capacityThe CPPE called for stricter enforcement of business, immigration and expatriate quota rules to protect fair competition and local businessesPAY ATTENTION: Find it fast with our new search feature at Legit.ng! Legit.ng journalist Victor Enengedi has over a decade’s experience covering energy, MSMEs, technology, banking and the economy.Nigeria’s retail sector is facing fresh pressure as the Centre for the Promotion of Private Enterprise (CPPE) raises concerns over the growing presence of foreign traders, particularly Chinese nationals, in markets across the country.CPPE Chief Executive Officer, Muda Yusuf, warned that the trend could threaten local businesses and employment in areas where Nigerian traders already have strong capacity.CPPE Raises Fresh Alarm Over More Foreign Traders Competing With Nigerian Businesses Source: UGCThe concern covers major segments including textiles, ICT products and accessories, automobile spare parts and tyres, electrical and plumbing materials, household goods and other consumer products.PAY ATTENTION: From breaking news to viral moments. Follow Legit.ng on Instagram!Yusuf said the development demands urgent policy attention, particularly as Nigerian businesses continue to battle high operating costs and weak consumer purchasing power.Traders Under Growing PressureThe CPPE boss noted that distributive trade accounts for an estimated 27.5 per cent of Nigeria’s workforce, making the sector a critical source of income for millions of Nigerians, especially operators of micro, small and medium-sized businesses.He said the growing complaints from traders and protests in some major commercial markets should not be overlooked.He said the concern was the movement of some foreign suppliers and traders beyond importing and wholesaling into retail activities where Nigerian businesses already have substantial expertise.“A situation where overseas manufacturers or major suppliers sell products to Nigerian importers and distributors, and subsequently establish operations that compete directly with those same businesses at the retail end of the market, creates legitimate concerns about market structure and fair competition,” he said.According to Yusuf, the concerns are emerging against the backdrop of rising unemployment, poverty, expensive financing and declining purchasing power — pressures already squeezing businesses across the country.CPPE demands government actionYusuf stressed that CPPE’s position was not opposition to Chinese investment or Nigeria’s long-standing economic relationship with China.The CPPE chief called for tighter scrutiny of business permits, expatriate quotas, immigration approvals and other authorisations issued to foreign nationals operating in Nigeria’s retail and distributive trade.He argued that expatriate quotas should primarily be used to bring in specialised skills that are unavailable locally, rather than facilitate competition in sectors where Nigerians already possess adequate capacity.CPPE Raises Fresh Alarm Over More Foreign Traders Competing With Nigerian Businesses Source: UGCYusuf also urged stronger enforcement of investment and immigration regulations, investigation of complaints by Nigerian traders and clearer rules governing foreign participation across the retail value chain.He called for better coordination among immigration, trade, investment and labour authorities to ensure foreign participation is aligned with demonstrable skills gaps and specialised competencies. Source: Legit.ng Victor Enengedi (Business HOD) Victor Enengedi is a trained journalist with over a decade of experience in both print and online media platforms.
He holds a degree in History and Diplomatic Studies from Olabisi Onabanjo University, Ogun State. An AFP-certified journalist, he functions as the Head of the Business Desk at Legit. He has also worked as Head of Editorial Operations at Nairametrics. He can be reached via victor.enengedi@corp.legit.ng and +2348063274521.
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