- Says Will Support Job Creation Across Value Chain
The Coca-Cola System in Nigeria, on Thursday at the State House in Abuja, Nigeria, announced plans to expand its investments in the country over the next five years.
This, according to a delegation from the System comprising Coca-Cola Nigeria Limited and its authorized bottler, Nigeria Bottling Company (NBC), during a visit to President Bola Ahmed Tinubu, is however predicated on what it termed a predictable and enabling environment in place.
Apart from the Coca-Cola System leadership team in Nigeria, the delegation included international Coca-Cola System representatives such as John Murphy, President and Chief Financial Officer of The Coca-Cola Company; Zoran Bogdanovic, Chief Executive Officer of Coca-Cola Hellenic Bottling Company; Henrique Braun, EVP and President, International Development of The Coca-Cola Company; Luisa Ortega, President of Coca-Cola’s Africa Operating Unit; and Naya Kalogeraki, Chief Operating Officer of Coca-Cola Hellenic Bottling Company.
The plan involves accelerating its investments in Nigeria to reach US$1bn, building on the System’s long-standing involvement in communities across the country.
The new investment follows investment totalling US$1.5bn in the country by Coca-Cola Hellenic Bottling Company, known locally as Nigerian Bottling Company over the last 10 years, the statement noted.
With the fresh announcement, the Coca-Cola System says it plans to more than double its rate of investment over the next five years, a situation it says underscores the System’s continued confidence in the Nigerian market and its promising future economic prospects.
The investment, according to the statement jointly signed by Oluwasoromidayo George, Director, Corporate Affairs and Sustainability at Coca-Cola Hellenic Bottling Company, and Nwamaka Onyemelukwe, Senior Director, Public Affairs, Communication & Sustainability, Nigeria, Coca-Cola Nigeria Limited, is expected to support various value chain areas such as suppliers, distributors, retailers, and recyclers.
Murphy stressed at the meeting that “the investment highlights our system’s efforts to drive scalable initiatives while also preserving the value of local relevance. Coca-Cola has been an integral part of the African continent for over 96 years and today’s investment in Nigeria reiterates our optimism about the continent.”
Also commenting, Bogdanovic recalled that the Coca-Cola System has been part of Nigerian communities for over 70 years, while expressing belief “in the strength and continued potential of the market.
“We are excited to announce this investment, which demonstrates our dedication to fostering economic growth and creating job opportunities in the country.
“Our investment goes beyond business growth; it’s about contributing to the well-being of the communities we call home. We foresee significant social and economic advancements, which is why we continue to invest in our business operations and community programs in Nigeria,” he added.
On his part, Ortega emphasized the importance of partnership that creates a stable operating environment.
Collaborating with the government and other stakeholders, he assured, “we can drive sustainable development and economic empowerment. Our collective efforts can create a lasting positive impact on the communities we serve.”
Welcoming his guests, President Tinubu commended Coca-Cola for its long-standing partnership with Nigeria and for promoting investment opportunities that have employed over 3000 people across nine production facilities.
”We are business-friendly, and as I said at my inauguration, we must create an environment of easy-in and easy-out for businesses. We are building a financial system where you can invest, re-invest, and repatriate all your dividends. I have a firm belief in that,” he said.
