‘Coca-Cola System generates $1bn economic value in Nigeria’

In 2024, the Coca-Cola System in Nigeria supported approximately 160,200 jobs, according to a Socio-Economic Impact Assessment conducted by Steward Redqueen. The assessment, which utilized the Leontief input-output economic model, revealed that for every direct job created by the company, an additional 53 jobs were supported throughout the economy, showcasing the multiplier effect of the Coca-Cola System's operations and supply chain.

The report estimated that the Coca-Cola System generated $1 billion in value-added economic activity within Nigeria during the period under review.

The System, comprising Coca-Cola Nigeria Limited and its authorised bottler, the Nigerian Bottling Company, employed 2,989 individuals directly and indirectly sustained over 157,200 jobs across sectors such as agriculture, logistics, retail, hospitality, and distribution. Local procurement played a significant role in the Coca-Cola System's operations, with the company spending about $601 million annually on goods and services sourced from local suppliers.

This approach has enabled the company to integrate deeply into Nigeria's agricultural, manufacturing, and logistics sectors while creating economic opportunities for businesses and individuals nationwide.

The assessment also highlighted the company's investments in waste management and water stewardship. Notably, a packaging collection hub was launched in Apapa, Lagos, capable of processing 13,000 metric tonnes of PET plastic annually, expected to support around 1,000 informal waste collectors. In terms of water sustainability, the report mentioned a $25 million Africa-wide water stewardship initiative covering 20 markets, including Nigeria.

These initiatives have positively impacted communities in Borno and Imo states, with over 2.6 million people reportedly benefiting from projects such as borehole rehabilitation, sanitation infrastructure, and riverbank restoration.