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FG to Cut Industries' CostsFG to Cut Industries' Costs
Daily Trust
Elkanah Chawai
5 September 2007
The Federal Government is intent on reducing the cost of production for industries through rapid improvement in essential infrastructure and national security, President Umaru Musa Yar'Adua said yesterday. He said that the cost of doing business in Nigeria will be greatly reduced in order to improve the business environment in the country.
Speaking when a delegation from the Coca-Cola Company of the United States led by its President and Chief Operating Officer, Mr. Muhtar Kent, visited him at the State House, President Yar'Adua assured investors that "we will provide the enabling environment for your business to grow and prosper. We will provide critical infrastructure in the shortest possible time. We will also make it possible for you to repatriate more of your profits."
He however urged big companies in the country to show greater social responsibility by providing more employment and social services to their host communities. The President commended the Coca-Cola Company's efforts at social responsibility programmes and tasked other companies to emulate Coca-Cola's contribution to development in the last 50 years.
Earlier, Mr. Kent told Yar'Adua that the delegation had just commissioned a $40 million bottling company in Abuja, which is the 17th Coca-Cola bottling facility in Nigeria. He said the Coca-Cola Group now has an investment target of $100 million per annum in Nigeria, which he said is currently its second largest market in Africa.
Copyright © 2007 Daily Trust
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