CPPE cautions legislators against use of foul languages on investors

Spread the love

Lagos, March 17, 2024 -The Centre for the Promotion of Private Enterprise (CPPE), a private sector think-tank in Lagos, has appealed to the National Assembly members against the use foul languages on investors during their deliberations.

Muda Yusuf, the Director of CPPE, gave the advice to the NASS members in a statement issued  on Sunday against the backdrop of recent deliberation in the House of Representatives on the rising prices of cement across the country.

He said the CPPE had noted with concern the recent remarks on the floor of the House of Representatives on cement price which portrayed cement manufacturers in very bad light. 

“Members alleged that the manufacturers were exploitative as they engaged in arbitrary fixing of cement price. Some members even described the manufacturers as unpatriotic.

“These were narratives on the floor of the house which we consider to be most unfair to investors in the cement sector, especially when the perspectives of the cement manufacturers had not been heard by the members of the house. 

“Most of the remarks at the session were capable of inciting the public against the cement manufacturers and putting their huge investments at risk. 

“It is a dangerous thing to do, given the huge stake they have in the Nigerian economy and their enormous contributions to the economy.

“We plead with the leadership of the house to ensure moderation in the use of language to avoid adverse consequences for investors in the economy, going forward.”

Yusuf said that by the remarks, cement manufacturers were disparaged, denigrated and portrayed as deliberately inflicting pains on the Nigerians by arbitrarily increasing the price of cement. 

He described the development as unfair, especially when such utterances were not premised on painstaking study, empirical facts and evidence.

Yusuf said the principles of fairness demanded that the cement manufacturers should be given an opportunity to tell their own story before members could come to fair conclusion and judgement. 

“But regrettably, they have been judged publicly, before giving them the opportunity to present their own side of the story.  We believe this is a breach of the norms and standards of fairness and equity.”

He said the business of manufacturing is perhaps the most challenging enterprise in the contemporary Nigerian economy. 

“Many foreign firms in that space have either exited the country or downsized their operations.

“We appeal to the national assembly to always extend due courtesies to investors in the economy in the course of their legislative duties. The private sector plays a very critical role in the economy. 

“They account for over 80% of the country’s GDP, about 90% of the employment and over 70% of the government revenue. They deserve to be addressed with respect, courtesy, civility and fairness.

“This is without prejudice to the imperative of compliance with extant laws and regulations as well as responsible corporate citizenship by the investors,” he said.  (GBN)

Leave a Reply

Your email address will not be published. Required fields are marked *