President Bola Tinubu’s economic reforms are already yielding tangible results, with major multinational corporations such as Coca-Cola and TotalEnergies promising multimillion-dollar investments in Nigeria.
This demonstrates strong support for the country’s business environment and the current administration’s pro-business policies.
Coca-Cola, the beverage giant, has announced a $1 billion investment in Nigeria, reversing a previous decision to reduce its operations.
This investment follows the Tinubu government’s pledge to create a “easy-in, easy-out” environment for businesses, which includes streamlining foreign exchange processes and ensuring dividend repatriation.
TotalEnergies’ gas project: The French energy company has completed a $550 million investment in the Ubeta Field Development Gas Project, demonstrating its commitment to Nigeria’s gas sector.
This investment was made possible by the government’s incentives for non-associated gas developments, emphasising the administration’s commitment to attracting investment and supporting key industries.
A shift in investor sentiment: These large investments mark a significant shift in investor sentiment towards Nigeria.
Companies such as Coca-Cola and TotalEnergies, which had previously expressed concerns about the business environment, are now confident in the country’s future.
