LCCI reject calls for postponement of elections
The council of The Lagos Chamber of Commerce and Industry (LCCI) has expressed concern over the calls in some quarters for the postponement of the nation’s general elections scheduled to begin on February 14, 2015.
The council stated this in a communiqué issued at the end of the council meeting held on Wednesday in Lagos. The chamber noted that such a move would have significant negative consequences for investors’ confidence, the economy, and the stability of the polity. The credibility of the electoral process could also be put at risk.
The LCCI council urged all Nigerians and in particular the political class to respect the outcome of the elections; and candidates with reservations should seek redress in accordance with the law.
“All forms of violence should be avoided. Without peace nothing else will happen in an economy political and social stability are critical factors that drive investors’ confidence. Therefore, the quality of the electoral process and the conduct of the major players in the political space are most critical at this time.”
The LCCI Council reiterated its call on the key institutions in the transition process to be above board – INEC, Security Agencies and the Judiciary. They should be non-partisan, and should be seen to be so. This is necessary to earn the confidence of the citizens and the stakeholders in the electoral process.
On the subsidy scheme on petroleum products, LCCI council reiterated its call for the Federal Government to discontinue its subsidy scheme on PMS and kerosene in the light of the drop in global oil price. “Government should take the opportunity presented by the current realities to exit the subsidy scheme in view of the fiscal leakages and other transparency issues associated with the scheme”.
The council stated that it would liberate the downstream oil sector from the shackles of inefficiency and corruption. The council maintained that this is the time to allow the private sector to take full charge of the downstream sector and unleash the huge potentials that exist in the sector.