The Coca-Cola System in Nigeria, consisting of Coca-Cola Nigeria Limited and its authorized bottler, the Nigeria Bottling Company (NBC), has announced plans to significantly expand its investments in the country. Over the next five years, provided there is a stable and conducive environment, Coca-Cola intends to boost its investment in Nigeria to $1 billion.
This decision reflects Coca-Cola's strong confidence in the Nigerian market and its future economic potential. The planned investment will support key areas across the value chain, including suppliers, distributors, retailers, and recycling initiatives.
The announcement was made during a visit to the State House in Nigeria, where a delegation from the Coca-Cola System was hosted by President Bola Tinubu. The delegation included both local and international leaders from the Coca-Cola System, such as 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 at The Coca-Cola Company; Luisa Ortega, President of Coca-Cola’s Africa Operating Unit; and Naya Kalogeraki, COO of Coca-Cola Hellenic Bottling Company.
John Murphy emphasized that the investment reflects Coca-Cola's commitment to scalable initiatives while maintaining a strong local presence. He noted that Coca-Cola has been part of Africa for over 96 years, and this new investment reinforces the company’s optimism about Nigeria’s future.
Zoran Bogdanovic highlighted Coca-Cola’s deep ties to Nigeria, where it has operated for over 70 years, and expressed excitement about the investment, which aims to promote economic growth and create job opportunities in the country.
The company also emphasized that the investment is not just about business expansion, but also about contributing to the well-being of the communities it operates in, predicting significant social and economic progress. Collaboration with the government and stakeholders is key to achieving sustainable development, according to Luisa Ortega.
President Tinubu praised Coca-Cola’s long-standing commitment to Nigeria and its role in creating job opportunities for over 3,000 people across nine production facilities. He also reiterated his government's commitment to fostering a business-friendly environment, where businesses can easily invest, reinvest, and repatriate their dividends.
Coca-Cola has a legacy of over 96 years on the African continent, and 73 years in Nigeria, employing more than 2,800 people across eight production plants. According to a recent economic impact study by Steward Redqueen, every job created by the Coca-Cola System in Nigeria supports 31 additional jobs in the country.
The Coca-Cola System continues to contribute to Nigeria’s socio-economic development through various sustainability initiatives, including youth empowerment, clean water provision, and enhancing the country's plastic waste collection infrastructure.
