Coca-Cola targets fresh $1bn Nigeria investment over five years

The Coca-Cola system in Nigeria plans to invest an additional $1 billion over the next five years, contingent on a stable and supportive policy environment, according to a recent assessment by Steward Redqueen. This investment decision followed a socio-economic evaluation conducted in 2024, which revealed that the Coca-Cola system supports approximately 160,200 jobs in Nigeria, including 2,989 direct employees and over 157,200 indirect jobs across sectors such as agriculture, logistics, retail, hospitality, and distribution.

The assessment also found that for every job directly created by the company, an additional 53 jobs are supported elsewhere in the economy, highlighting the multiplier effect of the Coca-Cola system's operations and supply chain activities. Furthermore, the company spent about $601 million annually on goods and services from local suppliers, reinforcing the importance of domestic procurement in driving economic growth.

The assessment highlighted the company's sustainability-focused investments, including a packaging collection hub in Apapa, Lagos, capable of processing 13,000 metric tonnes of PET plastic annually, which is expected to support around 1,000 informal waste collectors. Additionally, the Coca-Cola system's water stewardship initiative, covering 20 markets across Africa, including Nigeria, has impacted over 2.6 million people through projects such as borehole rehabilitation, sanitation infrastructure, and riverbank restoration efforts.

The Coca-Cola system's continued alignment with local ambition and global expertise will be crucial in scaling its impact and creating broader economic opportunities for Nigerians.