Coca-Cola Hellenic Bottling Company has revealed plans to invest $1 billion in Nigeria in expansion of its business in the next five years.
Gatekeepers News reports that Chief Executive Officer (CEO) of the company, Mr Zoran Bogdanovic disclosed this during a visit to President Bola Ahmed Tinubu.
In a statement released by Special Adviser to the President on Information and Strategy, Bayo Onanuga, Coca-Cola noted that it generates around N300 billion in revenues per year from Nigeria and returns N90 billion to the government.
The company added that for the past eleven years, it has spent around $1.5 billion in its Nigerian business on capacity expansion, supply distribution, and logistics.
Bogdanovic said, “That assurance gives us the confidence to continue our investments. Since 2013, we have invested $ 1.5 billion in Nigeria in capacity expansion, transformation of our supply chain infrastructure capabilities, training and development.”
“I am very pleased to announce that, with a predictable and enabling environment in place, we plan to invest an additional $1 billion over the next five years. We believe Nigeria’s potential is tremendous, and we are committed to working with the government to realise this potential.”
President Tinubu praised Coca-Cola for its enduring partnership with Nigeria and for creating over 3,000 jobs across its nine production facilities.
The president emphasised that private sector partnerships, which drive sustained investments, are key to his administration’s comprehensive reforms aimed at enhancing the business environment.
He assured that the government would continue working with Coca-Cola to boost investments and tackle environmental challenges, including climate change.
