President Bola Ahmed Tinubu has reaffirmed that Nigeria remains open to local and international investment, assuring businesses that his administration is working to create a more stable and competitive environment for companies willing to invest and expand their operations in the country.

The President gave the assurance in Abuja during the 75th anniversary celebration of Nigerian Bottling Company Limited, where he highlighted the importance of private-sector investment to Nigeria’s economic transformation.

Tinubu, who was represented at the event by the Secretary to the Government of the Federation, Senator George Akume, said the government recognises the challenges confronting businesses and is taking steps to address some of the structural problems that have historically discouraged investment.

According to him, Nigeria’s economic future depends significantly on the ability of both domestic and international companies to increase production, create jobs and contribute to the development of local industries.

Government Wants a More Competitive Business Environment

The President said the administration understands that businesses require a predictable environment to make long-term investment decisions.

He identified reliable electricity, improved infrastructure, efficient ports, better logistics, access to foreign exchange and a supportive tax system as some of the major factors required to encourage companies to invest more in Nigeria.

Tinubu stressed that when businesses have greater certainty about their operating environment, they are more likely to expand production, establish new facilities and employ additional workers.

He said the government is therefore focused on implementing reforms that will make it easier for companies to operate while improving Nigeria’s overall investment climate.

The President also pointed to the need for Nigeria to move away from excessive dependence on imported goods by strengthening local manufacturing and encouraging companies to produce more of what Nigerians consume.

Tinubu: Nigeria Must Produce More

According to the President, Nigeria has the resources and population required to become a major production hub, but the country must do more to convert its raw materials into finished products.

He said the government wants an economy in which local resources are processed within the country, creating additional v

President Bola Ahmed Tinubu has assured local and foreign investors that Nigeria remains open for business, saying his administration is focused on creating a more predictable and competitive environment for companies operating in the country.

The President gave the assurance on Monday in Abuja during the 75th anniversary celebration of Nigerian Bottling Company Limited, where he highlighted the government’s ongoing economic reforms and its efforts to attract productive investment.

Represented by the Secretary to the Government of the Federation, Senator George Akume, Tinubu said the government understands the difficulties businesses currently face and is working to address some of the structural challenges affecting investment and production.

Government Lists Priorities for Investors

According to the President, businesses need dependable electricity, adequate infrastructure, consistent regulations, efficient ports and logistics systems, access to foreign exchange and a tax framework that supports productive enterprise.

He said these factors play a major role in determining whether companies expand their factories, introduce new production lines and employ more Nigerians.

Tinubu said the administration’s reforms are intended to move Nigeria towards a more productive economy that relies less on imports while strengthening domestic manufacturing.

The President said Nigeria must increase local production, add more value to its raw materials and create greater opportunities for citizens.

Coca-Cola Investment Welcomed

Tinubu also welcomed the Coca-Cola System’s proposed $1 billion investment in Nigeria over five years.

The planned investment, announced in 2024, follows approximately $1.5 billion invested by the company over the preceding decade.

The President described the commitment as evidence of investor confidence in Nigeria and said the government is interested in the economic impact of investments beyond the amount of money brought into the country.

He said investments should contribute to job creation, skills development, technology transfer.

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