The Coca-Cola Company has announced plans to invest $1 billion into Nigeria’s economy over the next five years. This was revealed during a meeting between Coca-Cola’s President and CFO, John Murphy, and President Bola Tinubu in Abuja.
Murphy highlighted Coca-Cola’s significant contribution to Nigeria, stating that the company’s operations currently generate N320 billion annually through nearly 300,000 customers, and contribute close to N90 billion in revenue for the government.
Joined by Ambassador Segun Apata, Chairman of the Nigerian Bottling Company, Murphy expressed pride in Coca-Cola’s continued growth and positive impact on Nigerian communities.
He also emphasized the company’s focus on sustainability, including water conservation and packaging innovations.
In response, President Tinubu reaffirmed his administration’s commitment to fostering a business-friendly environment to attract more foreign investments.
He lauded Coca-Cola for its longstanding contributions, which currently support over 3,000 jobs across nine production facilities in the country.
Zoran Bogdanovic, CEO of Coca-Cola Hellenic Bottling Company, reiterated the company’s confidence in Nigeria’s future, noting that Coca-Cola has already invested $1.5 billion since 2013.
He cited the government’s commitment to creating a secure environment for foreign investments as a key factor behind their $1 billion pledge for future growth.
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