President Bola Tinubu has assured local and international investors that Nigeria remains open for business.
He also declared that his administration is working to create a more predictable, competitive and investment-friendly business environment.
The President gave the assurance on Monday in Abuja at the 75th anniversary flagship event of the Nigerian Bottling Company Limited (NBC), held at the Bola Ahmed Tinubu International Conference Centre.
Tinubu, who was represented by the Secretary to the Government of the Federation, Senator George Akume, said the Federal Government recognises the practical challenges confronting businesses and is addressing them through reforms under the Renewed Hope Agenda.
“Our message to investors, both Nigerian and international, is clear: Nigeria is open for business, and we are working to make the business environment more predictable, more competitive and more supportive of investment,” the President said.
He 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.
According to him, these factors directly influence decisions by investors on whether to expand factories, establish new production lines and create additional employment opportunities.
President Tinubu explained that the administration embarked on its economic reforms because of the need to build a more productive and competitive economy capable of reducing dependence on imports, expanding domestic manufacturing and creating greater opportunities for Nigerians.
The President welcomed the Coca-Cola System’s announcement in 2024 of a potential US$1 billion investment in Nigeria over five years, describing the commitment, which followed US$1.5 billion invested during the preceding decade, as a vote of confidence in the Nigerian economy.
He said his administration was interested not merely 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.
Credit: channelstv.com
