$1bn Investment Plan for Nigeria by Coca-Cola System Pending Policy Environment

The Coca-Cola System in Nigeria has announced plans to invest an additional $1bn over the next five years, pending a predictable and enabling policy environment. This investment is subject to various socio-economic factors, as highlighted by a 2024 report conducted by global consultancy Steward Redqueen.

The study used the Leontief input-output economic model to assess the economic contributions of Coca-Cola Nigeria Limited and its authorized bottler, Nigerian Bottling Company. The findings revealed that the Coca-Cola System supported approximately 160,200 jobs across its value chain during the period under review.

This figure comprises 2,989 direct employees and over 157,200 indirect jobs spread across sectors such as agriculture, logistics, retail, hospitality, and distribution. Notably, for every job created directly by the company, another 53 jobs were supported elsewhere in the Nigerian economy through its supply chain and related activities.

The report also estimated that the Coca-Cola System generated around $1bn in value-added economic activity in Nigeria while spending approximately $601m annually on goods and services sourced from local suppliers. A significant portion of these inputs, including ingredients, packaging materials, and other production requirements, are sourced, manufactured, and distributed locally.