Coca-Cola to Invest $1 Billion in Nigeria Over 5 Years

The Coca-Cola System announced a plan to invest $1 billion in Nigeria over the next five years, aimed at expanding its production capacity and enhancing its local supply chain. President Bola Ahmed Tinubu welcomed this investment during the 75th anniversary celebration of the Nigerian Bottling Company Limited (NBC) in Abuja on September 15.

Represented by the Secretary to the Government of the Federation, George Akume, Tinubu described the investment as a vote of confidence in Nigeria’s economy and long-term prospects. He noted that the Coca-Cola System had previously invested about $1.5 billion in Nigeria over the last decade.

The President emphasized the importance of not only the capital influx but also the jobs, skills, and local sourcing generated by such investments. He stated that the Coca-Cola System contributed an estimated $1 billion in value-added economic activity in Nigeria in 2024 and supported over 160,000 livelihoods, purchasing approximately $601 million worth of goods and services from Nigerian suppliers.