The Coca Cola system sourced goods and services worth almost $601 million from Nigerian suppliers in 2024, highlighting its contribution to local economic activity as Nigerian Bottling Company marked 75 years of operations in the country.
The figure was revealed in an economic impact study conducted by Steward Redqueen and presented at NBC’s 75th anniversary gala held at the Bola Ahmed Tinubu International Conference Centre in Abuja.
The study also estimated that the Coca Cola system generated about $1 billion in value added economic activity across its Nigerian value chain during the year, while supporting more than 160,000 jobs.
Of the jobs linked to its activities, nearly 3,000 were direct positions, while about 157,200 were supported through sectors such as retail, agriculture, manufacturing, transportation and other services.
The anniversary celebration brought together government representatives, business leaders, partners and other stakeholders to mark NBC’s seven and a half decades in Nigeria.
NBC began production in Ebute Metta, Lagos, in 1951 and has since grown from a single production facility into a nationwide manufacturing and distribution operation with eight plants, 11 depots and 52 commercial territories across the country.
Representing President Bola Ahmed Tinubu at the event, the Secretary to the Government of the Federation, Senator George Akume, congratulated NBC on the milestone and recognised the company’s continued investment in Nigeria.
Akume said the company’s 75 year journey demonstrated what long term investment could achieve, while expressing the government’s interest in businesses that produce locally, develop Nigerian talent, strengthen domestic supply chains and support the communities where they operate.
Chairman of Coca Cola HBC, Anastassis G. David, reflected on the decision by Anastasios Leventis to secure Coca Cola rights for Nigeria in 1951, describing it as a major investment based on confidence in the country and its people.
David said that confidence in Nigeria’s future remains strong, adding that the company continues to see significant opportunities in the country.
The Chairperson of the Nigerian Bottling Company board, Sola David Borha, attributed the company’s longevity to the trust it has built over the years through consistency and sound governance.
NBC Managing Director, Goran Sladic, said the company’s history was closely connected to Nigeria’s own economic development.
He said NBC was proud of its contribution to creating opportunities, developing people, supporting communities and strengthening local value chains, while expressing the company’s intention to build on that foundation in the years ahead.
Chief Executive Officer of Coca Cola HBC, Zoran Bogdanovic, also reaffirmed the group’s commitment to further investment in Nigeria.
Bogdanovic said the company’s 75 year presence represented more than longevity, describing it as a shared history with Nigeria where the Coca Cola HBC story began.
He said the Coca Cola system was continuing to work towards its 2024 commitment to invest up to $1 billion in Nigeria over five years, subject to a predictable and supportive business environment.
According to him, part of that commitment is already being implemented through investments aimed at increasing manufacturing capacity at the Asejire Plant in Oyo State and the Challawa Plant in Kano State.
Bogdanovic also announced a $1.25 million commitment from the Coca Cola HBC Foundation to support young Nigerian entrepreneurs over the next three years, particularly those operating in the hospitality and food service industries.
The initiative is expected to provide business grants, entrepreneurship training, support for formalising businesses and mentorship opportunities.
The company said the new programme would complement its broader social investment efforts focused on youth and women empowerment, access to clean water, environmental sustainability, waste collection and recycling.
Separately, the Coca Cola Foundation has committed another $1.25 million towards sustainable water solutions aimed at benefiting thousands of Nigerians.
Henrique Braun, Chief Executive Officer of The Coca Cola Company, emphasised the importance of cooperation between the Coca Cola system and its bottling partners in creating value for communities.
He said the company’s commitment in Nigeria extends beyond its commercial operations, pointing to the Coca Cola Foundation’s support for efforts to improve access to safe water in Lagos and Abuja.
As NBC celebrates its 75th anniversary, the company says it remains focused on growing its operations and continuing to contribute to Nigeria’s economy through investment, employment, local sourcing and community development.
