President Bola Tinubu has emphasized his administration’s focus on enhancing Nigeria’s financial system to attract local and foreign investments.
In a statement released by Bayo Onanuga, Special Adviser to the President on Information and Strategy, Tinubu spoke following a meeting with Coca-Cola’s global leadership team, including President and Chief Financial Officer John Murphy and Nigerian Bottling Company Chairman Ambassador Segun Apata. He reiterated the government’s commitment to fostering a robust, business-friendly economy that encourages foreign direct investment.
Tinubu praised Coca-Cola for its longstanding relationship with Nigeria, highlighting its role in creating over 3,000 jobs across nine production facilities. “We are business-friendly, and as I stated during my inauguration, we must cultivate an environment that facilitates easy entry and exit for businesses,” he remarked.
He stressed the importance of private sector partnerships in sustaining investments and noted that his government’s reforms are aimed at improving the overall business environment. The President assured the delegation that the government would continue its collaboration with Coca-Cola to enhance investments and tackle environmental issues like climate change.
“The scale of Nigeria in Africa is vast, and our consumption capacity is growing daily,” he added, commending Coca-Cola for its community initiatives and skill development programs as part of its corporate social responsibility efforts.
John Murphy outlined Coca-Cola’s substantial impact in Nigeria, generating N320 billion annually through nearly 300,000 customers and contributing almost N90 billion in revenue to the government. He expressed pride in the company’s growth and its positive influence on the lives of many Nigerians.
Zoran Bogdanovic, CEO of Coca-Cola Hellenic Bottling Company, shared that confidence in the Nigerian government’s policies has led to a $1 billion investment pledge. “We were encouraged by your invitation for foreign investors and the assurance of dividend repatriation. Since 2013, we have invested $1.5 billion in Nigeria and plan to invest an additional $1 billion over the next five years,” he announced. “We believe Nigeria’s potential is immense, and we are committed to partnering with the government to unlock that potential.”
