The Coca-Cola System in Nigeria, which includes Coca-Cola Nigeria Limited and its bottling partner, Nigerian Bottling Company (NBC), has announced a significant new investment plan aimed at expanding its presence and operations in the country. Over the next five years, Coca-Cola plans to invest an additional $1 billion in Nigeria, contingent on maintaining a favorable business environment.
This new round of investment will more than double the Coca-Cola System’s commitment to Nigeria, building on the $1.5 billion invested by Coca-Cola Hellenic Bottling Company (NBC) in the past decade. With this move, the company demonstrates its deep confidence in Nigeria’s economic prospects and highlights its determination to support long-term growth.
The investment will focus on boosting various segments of Coca-Cola’s operations in Nigeria, with specific attention to local suppliers, distributors, retailers, and recycling efforts. These initiatives aim to strengthen the entire value chain, contributing to job creation, economic empowerment, and sustainability.
The announcement was made during a high-profile meeting at Nigeria’s State House, where a delegation of senior Coca-Cola executives met with President Bola Ahmed Tinubu. The delegation featured international leaders from the Coca-Cola System, including John Murphy, President and CFO of The Coca-Cola Company; Zoran Bogdanovic, CEO of Coca-Cola Hellenic Bottling Company; Henrique Braun, EVP and President of International Development for The Coca-Cola Company; and Luisa Ortega, President of Coca-Cola’s Africa Operating Unit.
John Murphy emphasized Coca-Cola’s longstanding relationship with Africa, stating, “This new investment highlights our focus on local relevance while driving global growth. We’ve been part of the African continent for over 96 years, and this substantial investment in Nigeria underscores our optimism about its economic future.”
Zoran Bogdanovic, CEO of Coca-Cola Hellenic Bottling Company, expressed the company’s continued belief in Nigeria’s potential. “For over 70 years, we’ve been integrated into Nigerian communities, and this new investment signals our dedication to nurturing both business growth and community development in Nigeria.”
Coca-Cola’s investment plans go beyond economic expansion, with a clear focus on contributing to the well-being of local communities. The System has long been committed to supporting Nigeria’s socio-economic development, with initiatives ranging from youth empowerment programs to clean water projects and building a more efficient waste collection infrastructure.
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“We are committed to ensuring our investments create a lasting impact on the communities we serve,” said Bogdanovic. “This isn’t just about growing our business—it’s about contributing to Nigeria’s future.”
Luisa Ortega, President of Coca-Cola’s Africa Operating Unit, emphasized the importance of collaboration with the Nigerian government and other stakeholders. “By working together, we can create a stable, sustainable environment that benefits not just our business but the communities that depend on us.”
President Bola Ahmed Tinubu commended Coca-Cola for its commitment to Nigeria, acknowledging the company’s role in promoting economic development and job creation. The Coca-Cola System currently employs over 3,000 people across nine production plants in Nigeria.
“Our government is focused on creating a business-friendly environment where companies like Coca-Cola can thrive,” said President Tinubu. “We are building a financial system that allows for investment, reinvestment, and the repatriation of dividends. I fully support these initiatives that contribute to Nigeria’s economic growth.”
Coca-Cola has been a key player in Nigeria’s economy for over seven decades. A recent study by Steward Redqueen revealed that for every job Coca-Cola creates, an additional 31 jobs are supported across the country. This extensive economic footprint underscores the company’s significant role in Nigeria’s development.
Coca-Cola’s impact extends beyond business operations, as the System continues to invest in initiatives that empower Nigerian youth, improve access to clean water, and enhance waste management systems, particularly focusing on plastics recycling.
