Tinubu welcomes Coca-Cola’s proposed $1bn investment in Nigeria

President Bola Tinubu has welcomed the Coca-Cola System’s proposed $1 billion investment in Nigeria, assuring investors the country remains open for business. According to Tribune Online, Tinubu, represented by Secretary to the Government of the Federation Senator George Akume, spoke at the 75th anniversary of the Nigerian Bottling Company in Abuja, citing reforms under the Renewed Hope Agenda to make the business environment more competitive.

The President described the proposed investment, announced in 2024 for deployment over five years, as a vote of confidence in Nigeria’s economy, coming after $1.5 billion invested over the preceding decade. He said the Coca-Cola System generated $1 billion in value-added economic activity in 2024 and supported over 160,000 livelihoods, urging firms to deepen local sourcing and manufacturing.