LAGOS – The Lagos Chamber of Commerce and Industry (LCCI) has implored the business community to give maximum cooperation to the Independent National Electoral Commission (INEC) for successful 2015 elections.
In a statement LCCI President, Mr Remi Bello, said that players in the economy should make the best of the current situation and make necessary adjustments.
Bello said that political transition periods were typically characterised by profound anxiety and uncertainty that had adverse impact on the confidence of investors.
He reiterated that the postponement had disrupted many plans, programmes, meetings, academic calendar, conferences and important business decisions, locally and internationally.
He added that the rescheduling of the activities and the attendant dislocations would come at a cost to investors and citizens alike.
He told the business community that although major investment decisions were difficult to take because of the tempo of the impending elections, the quicker the conditions were dispensed with, the better.
‘’This is a major impact point of the election postponement – a prolongation of the suspense.
‘’Investors need to have an idea of the direction of the country’s political and economic governance to manage policy and political risks of investments.’’
The LCCI boss said that a credible electoral process was critical to the sustenance of political and social stability as well as economic progress of the country.
‘’The process needs to be managed in a way that would inspire the confidence of all stakeholders.
‘’Business cannot take place in an environment that is socially and politically unstable.
“This is another reason for investors to worry about current developments,” he said.