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The Centre for the Promotion of Private Enterprise (CPPE) has advised the House of Representatives members against comments that could give a bad name to manufacturers of cement and incite Nigerians against them.
CPPE gave this warning in a public statement issued by the Chief Executive Officer of CPPE, Dr Muda Yusuf, who described the recent deliberations on the floor of the House of Representatives where members alleged that the manufacturers were arbitrary and exploitative in fixing the price of cement as a bad precedent, especially when the manufacturers had not been allowed to present their own story to the House.
“Some of the remarks by the honourable members at the session were capable of inciting the public against the cement manufacturers and putting their huge investments at risk.
“We should not give our cement manufacturers a bad name. It is a dangerous thing to do given the huge stake they have in the Nigerian 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.”
According to him, “cement manufacturers were disparaged, denigrated and portrayed as deliberately inflicting pains on the Nigerians by arbitrarily increasing the price of cement.
“This is most unfair in our humble opinion. Such weighty allegations should be premised on painstaking study, empirical facts and evidence. It should not just be about emotions and sentiments.”
Yusuf stated that such commentaries represented negative signalling to investors for an economy like Nigeria’s that is seeking to industrialise, attract investors and create jobs.
He noted that the comments were painful because the major players in the sector are indigenous companies who are making giant strides amidst a very difficult operating environment, including the multitudes of macroeconomic and structural headwinds.
“The business of manufacturing is 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 extend due courtesies to investors in the economy in the course of their legislative duties always.
‘The private sector plays a very critical role in the economy. They account for over 80 per cent of the nation’s GDP 90 per cent of the employment, and over 80 per cent of the revenue to the government.
“They deserve to be treated with respect, courtesy, civility and fairness,” Yusuf said.
