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

The Coca-Cola System in Nigeria has announced plans to “invest an additional $1bn in Nigeria over the next five years,” contingent on a predictable and enabling policy environment.

This was contained in a release shared with PUNCH Online on Saturday.

According to the release, the announcement followed a new socio-economic assessment of the Coca-Cola System in Nigeria conducted by global consultancy, Steward Redqueen, in 2024.

The study examined the economic contributions of the Coca-Cola System, comprising Coca-Cola Nigeria Limited and its authorised bottler, the Nigerian Bottling Company, using the Nobel Prize-winning Leontief input-output economic model.

Coca-Cola System supported 160,200 jobs in one year

According to the release, the “Coca-Cola System supported approximately 160,200 jobs throughout its value chain, with 2,989 direct employees and more than 157,200 additional jobs sustained indirectly across sectors such as agriculture, logistics, retail, hospitality and distribution.”

The study further found that for “every job created directly by the company, an additional 53 jobs were supported elsewhere in the economy, reflecting the multiplier effect of its operations and supply chain activities.”

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

It also disclosed that the company spent about $601 million annually on goods and services sourced from local suppliers, reinforcing the role of domestic procurement in supporting economic growth.

The assessment noted that a significant proportion of ingredients, packaging materials and other production inputs used by the Coca-Cola System are sourced, produced and distributed locally.

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According to the study, this approach has enabled the company to deepen its integration into Nigeria’s agricultural, manufacturing and logistics sectors while extending economic opportunities to businesses and individuals across the country.

The report also highlighted the company’s sustainability-focused investments, particularly in waste management and water stewardship.

It pointed to the “launch of a packaging collection hub in Apapa, Lagos, which is capable of processing 13,000 metric tonnes of PET plastic annually and is expected to support about 1,000 informal waste collectors.”

According to the study, the facility is designed to strengthen Nigeria’s recycling ecosystem by improving plastic recovery and supporting livelihoods linked to waste collection and recycling activities.

In the area of water sustainability, the report highlighted “a $25 million Africa-wide water stewardship initiative covering 20 markets, including Nigeria.

“Communities in Borno and Imo states have already benefited from projects such as borehole rehabilitation, sanitation infrastructure and riverbank restoration efforts, with more than 2.6 million people reportedly impacted.”

The assessment concluded that the Coca-Cola System’s impact extends beyond beverage production, with contributions spanning job creation, local sourcing, environmental sustainability and community development.

According to the report, the System’s continued alignment of global expertise with local ambition will be critical to scaling its impact, strengthening supply chains and translating commercial presence into broader economic opportunities for Nigerians.

Looking ahead, the Coca-Cola System has announced plans to invest an additional $1 billion in Nigeria over the next five years, contingent on a predictable and enabling policy environment.