The Manufacturers Association of Nigeria (MAN) has said that the Coca-Cola’s recent $1 billion investment announcement must have been predicated on the full implementation of the Federal Government’s Accelerated Advancement and Stabilisation Plan (ASAP).

MAN’s Director-General, Segun Ajayi-Kadir, stated that the economic stabilisation plan highlights the partnership between the government and private sector stakeholders.

He, however, noted that Coca-Cola’s investment pledge is a positive signal and vote of confidence in this administration’s policies. He stressed that the full and timely implementation of the plan is crucial to unlocking its potential and sustaining investors’ confidence and economic growth.

“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. Coca-Cola’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 government’s commitment to the plan, further decisive and well-coordinated actions are needed to ensure this kind of investment and many more to be attracted translate into broader economic gains under this government.”

Ajayi-Kadir, who hailed the President for inaugurating the Presidential Economic Coordinating Council (PEPC) to oversee the plan’s execution warned that having a plan alone is not enough, adding that a diligent, focused, and unrelenting implementation is essential to achieving desired results.

He, therefore, stressed the need for the government to activate necessary structures and enforce accountability for delays, saying that with the current economic downturn, the stabilisation plan is timely and its effective implementation is crucial to restoring confidence in governance and the economy.