ECONOMY: Coca Cola’s planned $1bn investment in Nigeria

Coca Cola’s plan to invest $1 billion (₦410 bn) in Nigeria in the next 5 years testifies to the possibilities in the economy despite challenges, according to Nigeria’s Vice President, Prof. Oluyemi Oluleke Osinbajo.

Prof. Osinbajo stated this in the evening of Monday 22 Nov 2021 at the 70th anniversary gala of the Nigerian Bottling Company (NBC).

Vice President Yemi Osinbajo celebrates Coca Cola’s 70 years in Nigeria
At the Gala night

He said, “Your ongoing investment in the country, which I am told will be in the order of $1billion in the next five years, testifies to your faith in the possibilities of Nigeria.”

Hailing the company for spending 70 years in Nigeria, he noted that Coca Cola has demonstrated “commitment to the Nigerian people with repeated investments, in building production facilities across the country and creating thousands of jobs but also in active support of every aspect of our national life, from health to education, women and youth empowerment to sports.”

Some Coca-Cola products

Nigerian Bottling Company was incorporated in 1951 but started production in 1953 at the basement facilities of the mainland Hotel, owned by Leventis Group, producing Coke licensed by the Coca Cola Company.


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