Coca-Cola outlines potential $1bn Nigeria investment over five years

The Coca-Cola System in Nigeria has announced plans to invest an additional $1bn in the country over the next five years, subject to what it described as a predictable and enabling policy environment. The announcement was contained in a release shared with PUNCH Online. It followed a 2024 socio-economic assessment conducted by global consultancy Steward Redqueen.

The study examined Coca-Cola Nigeria Limited and its authorised bottler, the Nigerian Bottling Company, using the Leontief input-output economic model. According to the release, the system supported approximately 160,200 jobs during the period under review. That figure included 2,989 direct employees and more than 157,200 jobs supported indirectly across agriculture, logistics, retail, hospitality and distribution.

The assessment said each direct job was associated with a further 53 jobs elsewhere in the economy. The report also estimated that the Coca-Cola System generated $1bn in value-added economic activity in Nigeria. It said the company spent about $601m annually on goods and services from local suppliers, with ingredients, packaging and other inputs sourced, produced and distributed locally.

The assessment highlighted investments in waste management and water stewardship. A packaging collection hub in Apapa, Lagos, was described as capable of processing 13,000 tonnes of PET plastic annually and supporting about 1,000 informal waste collectors. It also cited a $25m Africa-wide water stewardship initiative covering 20 markets, including Nigeria.

Projects in Borno and Imo states, including borehole rehabilitation, sanitation infrastructure and riverbank restoration, were reported to have reached more than 2.6 million people.