President Bola Tinubu has reaffirmed his administration’s commitment to fostering a robust financial system and creating a business-friendly environment to attract increased foreign direct investment (FDI). This announcement came during a meeting with Coca-Cola’s global leadership in Abuja on Thursday, where the beverage giant revealed plans to invest $1 billion in Nigeria over the next five years.

Bayo Onanuga, Special Adviser to the President on Information and Strategy, shared the news, noting that Coca-Cola’s President and Chief Financial Officer, John Murphy, led the company’s delegation, along with Nigerian Bottling Company Chairman Ambassador Segun Apata.

President Tinubu commended Coca-Cola for its long-term partnership with Nigeria and its contributions to job creation, with over 3,000 employees across nine production facilities. He highlighted his administration’s focus on streamlining business processes to facilitate investment. “We are creating a system where businesses can invest, reinvest, and repatriate dividends with ease,” the President stated.

Tinubu assured Coca-Cola’s leadership that the government views private sector partnerships as central to ongoing reforms aimed at enhancing the business climate. He also stressed the government’s readiness to collaborate with the company to boost investments and tackle environmental challenges like climate change.

John Murphy provided an overview of Coca-Cola’s operations in Nigeria, citing annual revenues of N320 billion and the company’s contribution of nearly N90 billion in taxes to the Nigerian government. He expressed pride in Coca-Cola’s growth and its impact on Nigerian communities, emphasizing the company’s focus on sustainability and water management.

Zoran Bogdanovic, CEO of Coca-Cola Hellenic Bottling Company, underscored the company’s confidence in Nigeria’s future, attributing its $1 billion investment commitment to faith in Tinubu’s policies. He noted that since 2013, Coca-Cola has invested $1.5 billion to expand capacity, modernize supply chains, and develop local talent. “We see great potential in Nigeria, and we look forward to working with the government to unlock it,” Bogdanovic added.