On Sunday, the Centre for the Promotion of Private Enterprise (CPPE) called on the Federal Government to promptly implement a comprehensive Investor and Employer Protection Framework aimed at safeguarding the interests of both investors and workers.
The economic policy institute emphasized that such a framework would harmonize the rights and duties of all parties involved, thereby promoting enduring economic development, social harmony, and national security.
This appeal comes in light of the recent conflict between the Dangote Refinery and the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN).
In a statement issued in Lagos, Muda Yusuf, CPPE’s Director and Chief Executive Officer, highlighted that investors, business owners, and employers are fundamental to the vitality of any modern economy. However, in Nigeria, their protections remain insufficient and inadequate.
He expressed concern over the challenging environment investors face, characterized by unpredictability and weak institutional support.
“Although there are extensive legal protections for employees, Nigeria lacks a unified system that defends the rights and interests of investors and employers,” Yusuf explained.
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“This disparity erodes investor trust and exposes job creators to risks, especially from labor union strikes and industrial disputes.”
“The manufacturing and industrial sectors are particularly vulnerable due to their large employee base, substantial fixed expenses, and irreversible investments. Additionally, concerns persist regarding the broad authority wielded by regulatory bodies.”
“It is crucial to adopt a strong policy framework that fosters a fair, transparent, and secure investment environment; protects job creators; and ensures that industrial relations are managed through lawful procedures, fairness, and mutual respect.”
“Nigeria must swiftly establish a stable and equitable business climate that shields those who take entrepreneurial risks to generate wealth.”
“This initiative is not intended to diminish the role of labor unions but to create a balanced system of rights and obligations that supports sustainable economic progress, social cohesion, and national security.”
Yusuf further outlined that the primary objective of the proposed Investor and Employer Protection Framework is to create a just, balanced, and foreseeable business environment.
By: Babajide Okeowo
