The Centre for the Promotion of Private Enterprise has expressed concern over recent remarks made on the floor of the House of Representatives regarding cement prices, which painted cement manufacturers in a negative light.
Most of the comments made during the session, as stated by the CPPE CEO, Muda Yusuf, have the potential to incite the public against cement manufacturers and endanger their substantial investments.
It is more troubling that the members did not listen to the manufacturers before rushing to judgment and castigating them.
According to Yusuf, “Members claimed that the manufacturers were exploitative due to their involvement in arbitrary fixing of cement prices." The manufacturers were described as unpatriotic by some members.
These were narratives that we believe are extremely unfair to investors in the cement sector, particularly as the perspectives of the cement manufacturers were not considered by the members of the house.
The CPPE claimed that cement manufacturers were criticized, degraded, and accused of intentionally causing harm to Nigerians by raising the price of cement arbitrarily.
Describing the comments as unfair, the centre highlighted the necessity of basing weighty allegations on painstaking study, empirical facts, and evidence.
It was further stated that such commentaries were negative signals for an economy aiming to industrialise, attract investors, and create jobs.
The CPPE emphasized that fairness principles require allowing cement manufacturers to share their stories before members can reach a fair conclusion and judgment.
In addition, It is regrettable that they were judged publicly without being given the opportunity to present their side of the story. They consider this a violation of fairness and equity norms and standards.
