Nigeria’s President Bola Tinubu has reaffirmed his commitment to building a robust financial system and business-friendly economy, attracting foreign direct investments. This pledge came as Coca-Cola announced plans to invest $1 billion in Nigeria over the next five years.
In a meeting with Coca-Cola’s global leadership team, led by President and CFO John Murphy and Nigerian Bottling Company Chairman Ambassador Segun Apata, President Tinubu praised Coca-Cola’s long-standing partnership with Nigeria. The company has created over 3,000 jobs across nine production facilities.
President Tinubu emphasized his administration’s focus on private sector partnerships to improve the business environment. He assured continued collaboration with Coca-Cola to expand investments and address environmental issues like climate change.
Key Highlights of Coca-Cola’s Investment:
- Investment Pledge: $1 billion over the next five years
- Annual Revenue: N320 billion through nearly 300,000 customers
- Contribution to Nigerian Government: Almost N90 billion in revenue
- Previous Investments: $1.5 billion since 2013 in capacity expansion and supply chain infrastructure
Coca-Cola Hellenic Bottling Company CEO Zoran Bogdanovic attributed the investment decision to President Tinubu’s inaugural address, which welcomed foreign investors and assured dividend repatriation.
This assurance has boosted confidence in Nigerian government policies.
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