Coca-Cola Targets Fresh $1bn Nigeria Investment Over Five Years
Coca-Cola plans to invest another $1bn in Nigeria over five years, subject to a supportive business environment.
The Coca-Cola System has reaffirmed plans to invest up to $1bn in Nigeria over the next five years as the company strengthens its manufacturing operations and local supply chains.
The commitment was reiterated as Nigerian Bottling Company marks 75 years of operations in Nigeria, with Coca-Cola HBC Chief Executive Officer Zoran Bogdanovic saying the investment programme is already being implemented.
The company said the planned investment is subject to a predictable and enabling business environment, with projects already underway to expand manufacturing capacity at its Asejire plant in Oyo State and Challawa plant in Kano State.
Three new production lines were commissioned at the two facilities in June, comprising two lines at Asejire and one at Challawa. The projects form part of a wider programme to increase production capacity across the company’s Nigerian operations.
The Coca-Cola System, comprising Coca-Cola Nigeria Limited and its authorised bottler, Nigerian Bottling Company, has invested more than $1.5bn in Nigeria over the past decade.
The latest commitment is expected to support manufacturing, suppliers, distributors, retailers and other businesses connected to the company’s value chain.
A 2024 socio-economic assessment by global consultancy Steward Redqueen estimated that the Coca-Cola System supported approximately 160,200 jobs across its value chain in Nigeria. The figure included about 2,989 direct employees and more than 157,200 additional jobs supported indirectly.
The assessment also estimated that the system generated about $1bn in value-added economic activity in Nigeria in 2024 and spent approximately $601m on goods and services sourced from Nigerian suppliers.
Coca-Cola has also highlighted investments in environmental sustainability, including plastic waste collection and recycling, as well as water stewardship projects.
As part of its latest commitments, the Coca-Cola HBC Foundation has announced $1.25m to support young Nigerian entrepreneurs in the hospitality and food-service sector over the next three years.
The programme is expected to provide business grants, entrepreneurship training, formalisation support and mentorship.
The company said its continued investment reflects its long-term commitment to Nigeria and its confidence in the country’s consumer market, manufacturing potential and local business ecosystem.
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