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

Coca-Cola has announced plans to invest an additional $1 billion in Nigeria over the next five years, contingent on a favorable policy environment. The investment announcement was made following a socio-economic assessment conducted by global consultancy Steward Redqueen in 2024. The study revealed that the Coca-Cola System, comprising Coca-Cola Nigeria Limited and its authorized bottler, the Nigerian Bottling Company, supports approximately 160,200 jobs in Nigeria, with 2,989 direct employees and over 157,200 indirect jobs in sectors such as agriculture, logistics, retail, hospitality, and distribution.

The assessment also highlighted the company's significant spending on local goods and services, contributing to local economic growth. Additionally, the company has made sustainability-focused investments in waste management and water stewardship, including the launch of a packaging collection hub in Apapa, Lagos, and a $25 million Africa-wide water stewardship initiative.

Brief written by urgent.news from Punch Nigeria's own syndicated text. Machine-written — may contain errors; check the original before relying on it.