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

Coca-Cola aims to inject an additional $1 billion into Nigeria over the next five years, provided the country's policy landscape remains stable. This commitment emerged from a socio-economic evaluation of the Coca-Cola System in Nigeria, conducted by Steward Redqueen, a top consultancy firm. The assessment, completed in 2024, revealed that the Coca-Cola System employs approximately 160,200 people, including 2,989 direct employees and over 157,200 indirect jobs across various sectors like agriculture, logistics, retail, hospitality, and distribution.

For every job directly created by the company, an extra 53 jobs are supported elsewhere in the economy. Moreover, Coca-Cola annually spends around $601 million on goods and services from local suppliers, highlighting the importance of domestic procurement in boosting Nigeria's economy. The company's investments in waste management and water conservation, such as a packaging collection hub in Apapa, Lagos, processing 13,000 metric tonnes of PET plastic annually, and a $25 million water stewardship initiative across 20 markets, including Nigeria, further underscore its commitment to sustainable growth and community development.