Coca-Cola has announced plans to invest $1bn in Nigeria after the company’s president met with President Tinubu. Learn more about the significant investment.
President Bola Tinubu and Coca-Cola’s CFO, John Murphy, made this news during a meeting in Abuja.
According to Murphy, Coca-Cola’s operations in Nigeria currently bring in around N320 billion a year from roughly 300,000 consumers and nearly N90 billion in government income.
Joined by Ambassador Segun Apata, the chairman of the Nigerian Bottling Company, Murphy took satisfaction in Coca-Cola’s steady growth and its influence on Nigerian communities.
He underlined the business’s commitment to sustainability initiatives, such as water saving and innovative packaging.
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In response, President Tinubu reiterated the commitment of his administration to creating an atmosphere that is conducive to business in order to draw in additional foreign investment.
He commended Coca-Cola for continuing to invest in Nigeria, where it maintains nine production plants and over 3,000 employment.
Zoran Bogdanovic, CEO of Coca-Cola Hellenic Bottling Company, emphasized the company’s faith in Nigerian policies as well, highlighting the government’s commitment to provide a safe environment for foreign investments as a major driver for the $1 billion commitment.
Bogdanovic pointed out that Coca-Cola has made $1.5 billion in investments since 2013 and that the company is still upbeat about Nigeria’s potential for future growth.
