By Raphael Ekpang
Nigeria House of Representatives will hold a public hearing on Tuesday, on a proposed legislation titled “A Bill to Regulate Corporate Social Responsibility and Related Matters” (HB. 243).
The Speaker of the House of Representatives Rt. Hon. Abbas Tajudeen, PhD is expected to declare the public hearing open on Tuesday at 10 am.
The Sponsor of the bill, Rep. Olumide Osoba (APC Ogun), has explained the importance of the Bill saying, “this bill is a critical step towards ensuring that businesses in Nigeria are held accountable for their social and environmental impacts. It aims to promote ethical business practices and encourage companies to contribute positively to the communities in which they operate.”
Meanwhile, the Chairperson of the House Committee on Corporate Social Responsibility, Lilian Orogbu (LP, Anambra), emphasised the significance of this public hearing, stating, “This bill represents a crucial step towards ensuring that businesses in Nigeria are not only profitable but also contribute positively to the communities in which they operate. It is essential that we regulate corporate social responsibility activities to promote sustainable development and responsible business practices.”
The bill seeks to establish a regulatory framework for activities on corporate social responsibility in Nigeria, ensuring that businesses operate in a manner that not only upholds societal well-being but also fosters sustainability and responsibility in their operations.
In a statement by the house spokesman Akin Rotimi Jnr. the house invited stakeholders, interested parties, and the general public to partake in this pivotal public hearing and contribute their invaluable perspectives to the discourse on this bill.
