Ekohotblog reports that President Bola Tinubu has lauded Coca-Cola for its long-standing partnership with Nigeria, reaffirming his government’s commitment to fostering a business-friendly environment for investors.
Speaking during a visit by a delegation from Coca-Cola, led by CEO of Coca-Cola Hellenic Bottling Company, Mr. Zoran Bogdanovic, the President highlighted the importance of private sector collaborations in driving Nigeria’s economic reforms.
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“We are business-friendly, and as I emphasized during my inauguration, we must create an environment that facilitates easy entry and exit for businesses.
We are building a financial system where investors can not only invest and re-invest but also repatriate their dividends,” Tinubu stated.
The President expressed confidence that private sector partnerships would continue to sustain investments crucial to his administration’s goal of improving the business climate.
He also pledged the government’s ongoing cooperation with Coca-Cola to expand its investments in Nigeria and address critical environmental issues, including climate change.
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In his remarks, Mr. Zoran Bogdanovic noted that Coca-Cola Hellenic Bottling Company’s confidence in Nigeria’s business policies had prompted its decision to pledge a $1 billion investment over the next five years.
“Since 2013, we have invested $1.5 billion in Nigeria, focusing on capacity expansion, supply chain transformation, and workforce development.
With the enabling environment your government is building, we plan to invest an additional $1 billion to tap into Nigeria’s tremendous potential,” Bogdanovic said.
Coca-Cola’s President for Africa, Mr. Alfred Murphy, revealed that the company generates N320 billion annually from 300,000 customers in Nigeria, contributing nearly N90 billion in taxes to the government.
He also emphasized the company’s focus on sustainability, including water conservation and packaging innovations, as part of its commitment to supporting local communities.
The meeting underscored Coca-Cola’s dedication to maintaining its long-term investments in Nigeria while aligning with the government’s push for economic growth and environmental sustainability.
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