President Bola Tinubu has commended the Indonesian business conglomerate, the Tolaram Group, for believing in Nigeria and having absolute faith in its economy.
Tolaram, which partnered Nigeria to build the Lekki Free
Trade Zone and the country’s first deep sea port, has acquired Diageo’s 58.02
per cent shareholding in Guinness Nigeria Plc.
According to an announcement at the Nigerian Exchange on
Tuesday, Tolaram will also enter into long-term license and royalty agreements
for the continued production of the Guinness products and its locally
manufactured Diageo ready-to-drink and mainstream brands.
Tinubu said Tolaram, by acquiring Diageo’s shares in
Guinness, had shown that it has a long-term view of doing business in Nigeria.
Mr Bayo Onanuga, Special Adviser to the President on
Information and Strategy, said in a statement on Tuesday in Abuja.
The News Agency of Nigeria (NAN) reports that Tolaram has
been doing business in Nigeria in the last 50 years.
“In choosing to expand its investment footprints in Nigeria,
Tolaram has demonstrated strong faith and confidence in Nigeria’s economy.
“President Tinubu welcomes Tolaram to the beverage sector of
Nigeria’s business landscape and hopes the group’s business will continue to
flourish.
“President Tinubu gives assurances to investors and
Nigeria’s businesses, promising that his government will continue to make the
operating environment more conducive and transparent,” said the statement.
Tinubu said the multi-pronged reforms and interventions
being implemented on the economic and financial fronts would deliver sustained
growth and enduring profitability for investors.