Tinubu Assures Investors: Nigeria Open for Business Amid Proposed $1 Billion Investment

Nigeria's President Bola Ahmed Tinubu has reaffirmed his administration's commitment to creating a business-friendly environment, assuring local and international investors that the country remains open for business. Speaking at the 75th anniversary of Nigerian Bottling Company Limited (NBC), Tinubu said his government is working to make the business environment more predictable, competitive, and supportive of investment.

The President noted that businesses require reliable power and infrastructure, clear and consistent regulations, efficient ports and logistics, access to foreign exchange, and a tax system that encourages productive enterprise. He emphasized that these factors directly influence decisions by investors on whether to expand factories or establish new production lines.

Tinubu welcomed the Coca-Cola System's proposed $1 billion investment in Nigeria over five years, describing it as a vote of confidence in the Nigerian economy. The President stressed that his administration is interested not only in the volume of capital coming into the country but also in the impact such investments have on employment, skills development, local sourcing, technology transfer, and domestic productive capacity.

The President challenged businesses and policymakers to explore ways of increasing local content, developing Nigerian companies into dependable suppliers, training young Nigerians to operate modern equipment, and progressively replacing imports with competitively manufactured products. He pledged that the Federal Government will continue to improve policies, infrastructure, and the regulatory environment required to encourage investment and domestic production.