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

The Coca-Cola System in Nigeria generated an estimated $1 billion in economic value in 2024, according to a Socio-Economic Impact Assessment conducted by global consultancy Steward Redqueen. The assessment, which used the Leontief input-output economic model, revealed that the Coca-Cola System supported approximately 160,200 jobs across its value chain.

These jobs included 2,989 direct positions and over 157,200 indirect roles in sectors such as agriculture, logistics, retail, hospitality, and distribution. Beyond employment, the report found that the company spent $601 million annually on goods and services from local suppliers, emphasizing the importance of domestic procurement in fostering economic activity.

The Coca-Cola System's impact extends beyond beverage production, with investments in waste management and water stewardship, including a $25 million initiative in Nigeria. This initiative has supported projects like borehole rehabilitation, sanitation infrastructure, and riverbank restoration in Borno and Imo states, benefiting over 2.6 million people.

The assessment concluded that the Coca-Cola System's ongoing alignment of global expertise with local ambition is essential for scaling its impact and generating broader economic opportunities for Nigerians.