Coca-Cola invests $1 billion in Nigeria and creates over 160,000 jobs

The Coca-Cola system in Nigeria has shared the results of a recent socio-economic study. This study was done by global consulting firm Steward Redqueen. It came out after Coca-Cola celebrated its 75th Anniversary Gala in Abuja.

This independent study shows how much the Coca-Cola system helps Nigeria's economy, job market, and local communities.

According to the study, the Coca-Cola system in Nigeria includes The Coca-Cola Company and the Nigerian Bottling Company. Along with a wide network of local suppliers, distributors, and retailers, they added $1 billion in economic activity in 2024.

The Coca-Cola system supported more than 160,000 jobs. This includes nearly 3,000 direct jobs in the system. An extra 157,200 jobs were supported through suppliers, partners, and customers. So, for every direct job created, 53 more jobs were supported in Nigeria.

Local Sourcing and Economic Growth

The study also shows how well Coca-Cola sources goods locally. In 2024, they purchased $601 million worth of goods and services from Nigerian suppliers. This local buying supports many industries, including sugar production, packaging, transportation, and marketing. It shows how Coca-Cola acts as a partner in Nigeria's economic growth.

Coca-Cola has also made strong investments in Nigeria. They recently opened a new packaging collection hub in Apapa, Lagos. This hub supports their sustainability goals. It is an important part of Nigeria's plastic recycling system and can process up to 13,000 metric tonnes of plastic bottles every year. The aim is to cut down on plastic waste by collecting, sorting, and recycling PET plastics. It also creates jobs for local communities.

Coca-Cola's efforts go beyond just economic benefits. Nigeria benefits from the Africa Water Stewardship Initiative. This nearly $25 million investment will run until 2030. It helps deal with important water-related challenges in 20 African markets, including Nigeria.

The Steward Redqueen study looked at the direct, indirect, and induced economic effects of the Coca-Cola system in Nigeria. It combined Coca-Cola's operational data with trusted third-party economic information. The analysis shows how Coca-Cola's local operations impact the economy. This ranges from farmers growing sugarcane to retailers selling drinks, creating jobs, generating income, and opening up opportunities.