Don’t fall for Coca-Cola’s $1bn investment promise – CAPPA tells Tinubu

The Corporate Accountability and Public Participation Africa, CAPPA, has told President Bola Tinubu not to be deceived by Coca-Cola’s pledge to invest $1 billion investment in Nigeria.

CAPPA spokesperson Robert Egbe gave the advise in a statement made available to DAILY POST on Wednesday.

The civic society group described Coca-Cola’s recent pledge to invest in Nigeria after visiting President Tinubu as unrealistic.

CAPPA was reacting to Coca-Cola’s visit to Tinubu months after Nigeria’s Federal Competition and Consumer Protection Commission, FCCPC, indicted the company for unfair practices.

Reacting, CAPPA said that Coca-Cola’s investment promise was a ploy to continue its onslaught in breaking Nigeria’s regulations to the detriment of public health.

“It is a matter of grave concern that the news is once again awash with Coca-Cola’s promise of a $1 billion investment in Nigeria. This is the second time in three years that the company has made this hollow pledge to different ruling governments, and yet it failed to deliver the first time around.

“Sadly, by endorsing Coca-Cola’s shady investment only months after the FCCPC indicted it, the Nigerian government is not only setting itself up as an image launderer for a dirty corporation but also unbelievably, undermining and embarrassing its regulatory authority,’’ the CAPPA statement said.

Don’t fall for Coca-Cola’s $1bn investment promise – CAPPA tells Tinubu