Coca-Cola to invest $1bn in Nigeria as company’s president meets with Tinubu

The Coca-Cola Company has revealed plans to inject $1 billion into the Nigerian economy over the next five years.

This announcement came during a meeting between Coca-Cola’s President and CFO, John Murphy, and President Bola Tinubu in Abuja.

Murphy shared that Coca-Cola’s operations in Nigeria currently contribute around N320 billion annually through nearly 300,000 customers and generate close to N90 billion in revenue for the government.

Joined by Nigerian Bottling Company Chairman, Ambassador Segun Apata, Murphy expressed pride in Coca-Cola’s sustained growth and its impact on Nigerian communities.

He emphasized the company’s focus on sustainability efforts, including water conservation and packaging innovations.

President Tinubu, in response, reaffirmed his administration’s dedication to fostering a business-friendly environment to attract further foreign investments.

He praised Coca-Cola for its ongoing investment in Nigeria, which supports over 3,000 jobs across nine production facilities.

CEO of Coca-Cola Hellenic Bottling Company, Zoran Bogdanovic, also highlighted the company’s confidence in Nigerian policies, citing the government’s commitment to ensuring a secure environment for foreign investments as a key factor behind the $1 billion pledge.

Bogdanovic noted that Coca-Cola has already invested $1.5 billion since 2013 and remains optimistic about Nigeria’s future growth potential.