Facebook-f Twitter Youtube Instagram
Search for:
cropped-WhatsApp-Image-2023-09-28-at-11.08
  • Home
  • About us
  • Enforcement
  • Economy
  • Business
  • Politics
  • Features
  • Milestone
  • OTHERS
    • Healthcare
    • Religion
    • Opinion
    • World News
Menu
  • Home
  • About us
  • Enforcement
  • Economy
  • Business
  • Politics
  • Features
  • Milestone
  • OTHERS
    • Healthcare
    • Religion
    • Opinion
    • World News
Skip to content
  • Home
  • Economy
  • TINUBU REAFFIRMS COMMITMENT TO BUILDING ROBUST FINANCIAL SYSTEM, BUSINESS-FRIENDLY ECONOMY AS COCA-COLA DECLARES $1BN INVESTMENT IN NIGERIA
  • Economy

TINUBU REAFFIRMS COMMITMENT TO BUILDING ROBUST FINANCIAL SYSTEM, BUSINESS-FRIENDLY ECONOMY AS COCA-COLA DECLARES $1BN INVESTMENT IN NIGERIA

Admin September 19, 2024
Coca-Cola

President Bola Tinubu has reaffirmed his administration’s commitment to creating a robust financial system and a business-friendly economy that will attract more foreign direct investments.

The President stated this on Thursday in Abuja, as the Coca-Cola Company announced plans to invest $1 billion in Nigeria over the next five years.

The announcement was made at a meeting between the President and the global leadership team of Coca-Cola Company, led by Mr. John Murphy, its president and chief financial officer, and the Chairman of Nigerian Bottling Company, Ambassador Segun Apata.

According to a statement by the Special Adviser to the President (Information & Strategy), Bayo Onanuga, President Tinubu commended Coca-Cola for its long-standing partnership with Nigeria and for promoting investment opportunities that have employed over 3000 people across nine production facilities.

”We are business-friendly, and as I said at my inauguration, we must create an environment of easy-in and easy-out for businesses. 

”We are building a financial system where you can invest, re-invest, and repatriate all your dividends. I have a firm belief in that,” he said.

President Tinubu told the delegation that private sector partnerships, which sustain investments, are central to his government’s far-reaching reforms to improve the business environment.

He pledged that the government would continue partnering with Coca-Cola to expand investments in Nigeria and address environmental issues, including climate change.

”The size of this country is enormous in Africa, and the consumption capacity of Nigeria is expanding daily,” President Tinubu added while commending the company for scaling up its skill development and community initiatives as part of its corporate social responsibility.

Presenting an overview of Coca-Cola’s business in Nigeria, Murphy noted that the company generates N320 billion annually through nearly 300,000 customers and contributes almost N90 billion in revenue to the Nigerian government.

”We are very proud of the growth of the business over a long period and its impact on the daily lives of many Nigerians.

”Beyond the financial impacts, we are also very committed to supporting the communities, and over the last number of years, we’ve had a special focus on several areas in the world of sustainability, water packaging and others, ” he said.

Mr. Zoran Bogdanovic, CEO of Coca-Cola Hellenic Bottling Company, explained that the company’s confidence in Nigerian government policies had encouraged it to make the $1 billion investment pledge.

”Mr. President, in your inaugural address, we were very pleased to hear of your invitation for foreign investors to invest and your assurance that foreign businesses can repatriate dividends and profits.

”That assurance gives us the confidence to continue our investments. Since 2013, we have invested $ 1.5 billion in Nigeria in capacity expansion, the transformation of our supply chain infrastructure capabilities, training, and development.

”I am very pleased to announce that, with a predictable and enabling environment in place, we plan to invest an additional $1 billion over the next five years.

”We believe Nigeria’s potential is tremendous, and we are committed to working with the government to realise this potential,” he said.

About The Author

Admin

See author's posts

Continue Reading

Previous: POLICE APPREHEND MORTUARY ATTENDANTS, OTHERS FOR SELLING HUMAN PARTS, CORPSES’ BATHING WATER
Next: EDO GUBER 2024: GENERAL AHMED APPEALS FOR MAXIMUM SECURITY FOR CORPS MEMBERS

Related Stories

IMG-20250605-WA0424
  • Economy

PERNOD RICARD NIGERIA CELEBRATES WORLD ENVIRONMENT DAY WITH BOLD SUSTAINABILITY ACTIONS & CIRCULAR ECONOMY COMMITMENT

Admin June 5, 2025
IMG-20250521-WA0684
  • Economy

FEDERAL MINISTRY OF CULTURE CELEBRATES 2025 WORLD DAY FOR CULTURAL DIVERSITY FOR DIALOGUE AND DEVELOPMENT

Admin May 21, 2025
IMG-20250429-WA0282
  • Economy

GTCO SUSTAINS PROFITABILITY MOMENTUM WITH GROWTH IN CORE INCOME

Admin May 1, 2025

Disclaimer

Comments expressed here do not reflect the opinions of PEOPLE AND POWER MAGAZINE or any employee thereof. We don’t accept abusive comments on our stories. So, kindly respect every reader and contributor of PEOPLE AND POWER MAGAZINE’s opinion.

Visit Us

  • peopleandpowermag@gmail.com
  • 08035206797; 08137631381
  • 7, Mokuolu Street, Ogba, Lagos, Nigeria.
  • 9am - 5pm

Connect

  • Facebook
  • Instagram
  • YouTube
  • WhatsApp
Latest Categories
  • Business
  • Economy
  • Enforcement
  • Entertainment
  • Features
::Copyright © 2025 PEOPLE AND POWER Magazine::