President Bola Tinubu has reaffirmed his administration’s dedication to establishing a robust financial system and a business-friendly environment aimed at attracting increased foreign direct investment. The President made this declaration on Thursday in Abuja, as The Coca-Cola Company announced plans to boost its investment in Nigeria with a $1 billion commitment over the next five years.

The announcement was disclosed by the President’s Special Adviser on Information and Strategy, Bayo Onanuga, following a meeting between Tinubu and Coca-Cola’s global leadership, which included the company’s President and Chief Financial Officer, Mr. John Murphy, and Nigerian Bottling Company Chairman, Ambassador Segun Apata.

Tinubu praised Coca-Cola for its decades-long partnership with Nigeria and its role in creating over 3,000 jobs across nine production facilities. He emphasized his government’s intention to foster a business environment that allows companies to invest, reinvest, and repatriate dividends with ease, reinforcing the nation’s status as a top destination for foreign investments.

“We are building a financial system where you can invest, re-invest, and repatriate all your dividends,” Tinubu said. “We are business-friendly, and, as I stated during my inauguration, we must create an environment that facilitates ease of entry and exit for businesses.”

Tinubu also highlighted the significance of private sector partnerships in driving the government’s reforms to improve Nigeria’s business climate, pledging continued collaboration with Coca-Cola to expand investments and tackle environmental challenges like climate change.

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Murphy, providing an overview of Coca-Cola’s business impact in Nigeria, revealed that the company generates N320 billion annually through 300,000 customers and contributes N90 billion in revenue to the Nigerian government. He praised the business’s growth and the positive impact it has had on Nigerian communities.

Zoran Bogdanovic, CEO of Coca-Cola Hellenic Bottling Company, expressed confidence in Nigeria’s economic policies, affirming that these factors motivated the company’s $1 billion investment pledge. Bogdanovic also noted that Coca-Cola has already invested $1.5 billion since 2013 in expanding capacity, transforming its supply chain infrastructure, and enhancing employee development programs.

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