Ayobamiji Komolafe 
The Coca-Cola Company on Thursday announced plans to invest $1 billion in Nigeria over the next five years.
This was as President Bola Tinubu has reaffirmed his administration’s dedication to fostering a robust financial system and a business-friendly economy to attract more foreign direct investment.
Speaking during a meeting President Tinubu in Abuja, President and Chief Financial Officer of Coca-Cola, John Murphy and Ambassador Segun Apata, Chairman of the Nigerian Bottling Company made this pledge.
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President Tinubu praised the Coca-Cola’s global leadership team for its long-standing relationship with Nigeria, which has created employment for over 3,000 Nigerians across nine production facilities.
He reiterated that his administration’s goal is to build a financial system that allows businesses to easily invest, reinvest, and repatriate dividends.
“We are building a financial system where you can invest, re-invest, and repatriate all your dividends,” President Tinubu stated, emphasizing the government’s commitment to creating a business-friendly environment.
The President assured Coca-Cola that the government would continue to partner with them, not only to expand investments in Nigeria but also to address critical environmental challenges such as climate change.
Coca-Cola’s CEO, Zoran Bogdanovic, expressed the company’s confidence in Nigeria’s economic policies, which prompted the additional $1 billion investment pledge.
Since 2013, Coca-Cola has already invested $1.5 billion in Nigeria in capacity expansion, supply chain transformation, and workforce development.
Bogdanovic highlighted that Nigeria’s potential remains immense, and the company is committed to working with the government to help unlock this potential.
Murphy further revealed that Coca-Cola generates N320 billion annually through nearly 300,000 customers in Nigeria and contributes N90 billion in revenue to the government.
He also mentioned the company’s efforts in sustainability and corporate social responsibility, focusing on areas like water conservation and eco-friendly packaging.
President Tinubu assured the delegation that the government is focused on policies that ensure Nigeria remains a top destination for global investments.
