Coca-Cola Company has expressed confidence in the Nigerian economy. This was demonstrated by the President and Chief Financial Officer, John Murphy, who met with President Bola Tinubu in Abuja on Thursday, announcing the company’s plans to invest $1 billion in Nigeria over the next five years. This significant investment is a testament to Coca-Cola’s confidence in Nigeria’s potential and its government’s policies ¹.
Murphy expressed his pride in the company’s growth and impact on Nigerians’ daily lives, highlighting their commitment to supporting communities through sustainability initiatives and social programs. “We are very proud of the growth of the business over a long period and its impact on the daily lives of many Nigerians,” he said.
President Tinubu welcomed the investment, reaffirming his government’s dedication to creating a robust financial system and business-friendly economy. “We are building a financial system where you can invest, re-invest, and repatriate all your dividends,” he stated.
Zoran Bogdanovic, CEO of Coca-Cola Hellenic Bottling Company, attributed the investment decision to the Nigerian government’s policies, citing President Tinubu’s inaugural address. “That assurance gives us the confidence to continue our investments,” Bogdanovic said.
This investment will support various value chain areas, including suppliers, distributors, retailers, and recyclers. Coca-Cola’s presence in Nigeria has already employed over 3,000 people across nine production facilities.