President Bola Ahmed Tinubu has commended the Indonesian business conglomerate, the Tolaram Group, for believing in Nigeria and having absolute faith in her economy.

Tolaram, which partnered Nigeria to build the Lekki Free Trade Zone and the countrys first deep sea port, has acquired Diageos 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.

President Tinubu said Tolaram, by acquiring Diageos shares in Guinness, had shown that it has a long-term view of doing business in Nigeria.

Tolaram has been doing business in Nigeria in the last 50 years.

Bayo Onanuga, Special Adviser to the President on Information & Strategy, said Tuesday in a statement: 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 Nigerias business landscape and hopes the groups business will continue to flourish.

President Tinubu gives assurances to investors and Nigerias businesses, promising that his government will continue to make the operating environment more conducive and transparent.

He said that the multi-pronged reforms and interventions being implemented on the economic and financial fronts would deliver sustained growth and enduring profitability for investors.