The Manufacturers Association of Nigeria (MAN) has reacted to the recently announced $1 billion investment by the Coca-Cola Bottling Company.
Investor King reported that Coca-Cola announced plans to invest $1 billion in Nigeria on Thursday, September 19, 2024.
The Chief Executive Officer (CEO) of the company, Mr. Zoran Bogdanovic, disclosed this during his visit to President Tinubu, where he reaffirmed the company’s long-term commitment to Nigeria.
In his reaction, MAN Director General, Mr. Segun Ajayi-Kadir, stated that the investment must have been predicated on the full implementation of the Accelerated Advancement and Stabilisation Plan (ASAP).
Mr. Ajayi-Kadir made this known on Saturday via a statement made available to journalists in Lagos State.
The MAN boss urged the Tinubu-led government to maintain momentum and fully implement the plan for the billion-dollar investment, noting that the pledge was a positive signal and a vote of confidence in the Tinubu administration’s policies.
According to Ajayi-Kadir: “The early results of this plan are encouraging, but its full execution is crucial to ensure lasting economic growth. As advocates for Nigeria’s manufacturing sector, we urge the government to maintain momentum and fully implement the plan.”
“The Coca-Cola System’s $1 billion commitment must have been predicated on the belief that specific aspects of the ASAP would be fully implemented and sustained.”
“While we acknowledge the government’s commitment to the plan, further decisive and well-coordinated actions are needed to ensure this kind of investment—and many more like it—translate into broader economic gains under President Tinubu’s government.”
Furthermore, Ajayi-Kadir advised that diligent, focused, and unrelenting implementation is essential to achieving the desired results of the investment.