Coca-Cola Plans $1 Billion Investment in Nigeria

The Coca-Cola System in Nigeria announced plans to invest an additional $1 billion over the next five years, contingent on a predictable and enabling policy environment. This announcement was made following a socio-economic assessment conducted by global consultancy Steward Redqueen in 2024.

The assessment revealed that the Coca-Cola System, which includes Coca-Cola Nigeria Limited and the Nigerian Bottling Company, supported approximately 160,200 jobs, with 2,989 direct employees and over 157,200 indirect jobs across various sectors. The study indicated that for every job created directly, an additional 53 jobs were supported elsewhere, highlighting the multiplier effect of its operations.

The Coca-Cola System generated $1 billion in value-added economic activity and spent about $601 million annually on local goods and services. The assessment also noted the company's sustainability initiatives, including a packaging collection hub in Apapa, Lagos, and a $25 million water stewardship initiative benefiting communities in Borno and Imo states.