The Coca-Cola System in Nigeria has announced plans to invest an additional $1 billion in the country over the next five years.
The company said the planned investment will depend on having a predictable and enabling business environment as it continues to expand its operations and supply chain in Nigeria.
Coca-Cola Announces New Investment
The announcement follows a socio-economic assessment of Coca-Cola Nigeria Limited and the Nigerian Bottling Company carried out by global consultancy Steward Redqueen.
The assessment looked at the company’s contribution to Nigeria’s economy, including employment, local sourcing, manufacturing, logistics and distribution.
According to the study, the Coca-Cola System supported approximately 160,200 jobs across its value chain in Nigeria. This included 2,989 direct employees and more than 157,200 additional jobs supported indirectly.
Company Expands Local Production
The company has also continued investing in its Nigerian manufacturing operations.
Recent projects include additional production lines at the Asejire plant in Oyo State and the Challawa plant in Kano State. The facilities are part of efforts to increase production capacity across Coca-Cola’s Nigerian operations.
The Coca-Cola System said it has invested more than $1.5 billion in Nigeria over the past decade.
The latest $1 billion commitment would add to those investments as the company looks to expand manufacturing and strengthen its network of suppliers, distributors and retailers.
Coca-Cola’s Economic Impact
The Steward Redqueen assessment estimated that the Coca-Cola System generated about $1 billion in value-added economic activity in Nigeria during 2024.
It also estimated that the company spent approximately $601 million annually on goods and services sourced from Nigerian suppliers.
The report said local sourcing has helped connect Coca-Cola’s operations with sectors including agriculture, manufacturing, logistics and retail.
Investment Also Covers Sustainability
Coca-Cola’s activities in Nigeria also include environmental and community-focused projects.
The company’s sustainability initiatives include plastic waste collection and recycling as well as water stewardship projects.
The assessment highlighted a packaging collection hub in Apapa, Lagos, which has the capacity to process 13,000 metric tonnes of PET plastic annually and is expected to support about 1,000 informal waste collectors.
The Coca-Cola HBC Foundation has also announced $1.25 million to support young Nigerian entrepreneurs in the hospitality and food-service sector over the next three years. The programme is expected to include grants, entrepreneurship training and mentorship.
What Comes Next ?
Coca-Cola’s planned $1 billion investment is expected to support further expansion of its Nigerian operations over the next five years.
The company said the success of the investment programme will depend partly on a predictable and enabling business environment.
For Nigeria, the announcement adds another major corporate investment commitment to the country’s manufacturing and consumer economy.