On Thursday, Nigerian President Bola Tinubu reaffirmed his administration’s dedication to establishing a strong financial system and a business-friendly environment to attract more foreign direct investment.
This statement was made in Abuja as Coca-Cola Company announced its plan to increase its investments in Nigeria to $1 billion over the next five years. The announcement was made during a meeting between the President and Coca-Cola’s global leadership team, including Mr. John Murphy, the president and chief financial officer, and Ambassador Segun Apata, chairman of the Nigerian Bottling Company.
Tinubu praised Coca-Cola for its long-standing partnership with Nigeria and its role in creating over 3,000 jobs across nine production facilities. He emphasized the need for a business-friendly environment, stating, “As I mentioned during my inauguration, we must ensure a smooth process for businesses to enter and exit.”
He also highlighted the importance of building a financial system that allows for investment, reinvestment, and the repatriation of dividends, expressing strong belief in this goal. The President noted that partnerships with the private sector are essential for his government’s extensive reforms aimed at improving the business landscape.
Tinubu committed to the continuous expansion of Nigeria’s trade capacity and praised Coca-Cola for its initiatives in skill development and community support as part of its corporate social responsibility efforts.
“We take pride in the growth of the business and its positive impact on the lives of many Nigerians. Beyond financial contributions, we are also focused on supporting communities, particularly in areas related to sustainability and water packaging,” he stated.
