Coca-Cola to Invest $1 Billion in Nigeria Operations

Coca-Cola Company has announced plans to invest $1 billion in Nigeria over the next five years, driven by the ongoing reforms initiated by President Bola Tinubu’s administration. This substantial investment aims to bolster various businesses within the value chain, including distributors, retailers, and recyclers.
The Atlanta-based beverage giant has a history of commitment to Nigeria, having invested $1.5 billion over the past decade. Notably, in 2016, Coca-Cola acquired a 40% stake in Chi Ltd., a Nigerian juice and dairy company, for $240 million.
President Tinubu welcomed Coca-Cola executives, including President and CFO John Murphy, to discuss the investment. During the meeting, Tinubu emphasized the importance of creating a conducive business environment: “We must create an environment of easy-in and easy-out for businesses. We are building a financial system where you can invest, re-invest, and repatriate all your dividends.”
This investment comes at a critical time for Nigeria, particularly as other multinational companies, such as Diageo, Procter & Gamble, and GSK, have recently exited the market, citing challenging conditions. Coca-Cola’s commitment signals confidence in Nigeria’s potential, particularly in a market of over 200 million people.