Coca-Cola Hellenic Bottling Company has announced plans to invest $1 billion in Nigeria over the next five years to expand its business operations. The company’s CEO, Zoran Bogdanovic, revealed this during his visit to President Bola Tinubu.
In a statement signed by Bayo Onanuga, Special Adviser to the President on Information and Strategy, Coca-Cola highlighted its commitment to Nigeria, generating around N300 billion in annual revenue and returning N90 billion to the government. The company also noted that since 2013, it has invested $1.5 billion in Nigeria on capacity expansion, supply chain development, and logistics.
Zoran Bogdanovic expressed confidence in Nigeria’s potential and the company’s ongoing investment, saying, “With a predictable and enabling environment, we plan to invest an additional $1 billion over the next five years.”
President Tinubu praised Coca-Cola for contributing to Nigeria, creating over 3,000 jobs across its nine production facilities. He emphasized that private-sector partnerships are critical to his administration’s reforms to improve the business environment.
This investment comes despite recent tensions between Coca-Cola and the Federal Competition and Consumer Protection Commission (FCCPC), which accused the company of misleading marketing tactics regarding product variants. The matter is still under review for future regulatory action.
Coca-Cola’s continued investment is a confidence booster for the Nigerian government’s efforts to attract foreign investors.
