KEY POINTS
• Nigerian Bottling Company has marked 75 years of operations in Nigeria.
• Coca Cola HBC reaffirmed its plan to invest up to $1 billion in Nigeria over five years.
• The Coca Cola system contributed about $1 billion in economic value and supported more than 160,000 jobs in 2024.
MAIN STORY
Nigerian Bottling Company Ltd has marked 75 years of operations in Nigeria, with Coca Cola HBC reaffirming its commitment to invest up to $1 billion in the country over five years.
The anniversary was marked at a gala held at the Bola Ahmed Tinubu International Conference Centre in Abuja, with President Bola Ahmed Tinubu represented by the Secretary to the Government of the Federation, George Akume.
Delivering the President’s remarks, Akume congratulated NBC on the milestone and highlighted the importance of companies that invest in local production, develop Nigerian talent and strengthen domestic supply chains.
Since its first production run in Ebute Metta in 1951, NBC has expanded to eight plants, 11 depots and 52 commercial territories across Nigeria.
The company’s operations support activity across manufacturing, logistics, distribution, retail and other parts of the local supply chain.
A recent economic impact study by Steward Redqueen estimated that the Coca Cola system generated about $1 billion in value added economic activity across its Nigerian value chain in 2024.
The study also estimated that the system supported more than 160,000 jobs during the year. Nearly 3,000 were direct positions, while about 157,200 were linked to sectors including retail, agriculture, manufacturing, transport and services.
The Coca Cola system also sourced almost $601 million worth of goods and services from Nigerian suppliers during the year, according to the study.
Coca Cola HBC Chief Executive Officer Zoran Bogdanovic said the group was continuing to implement its 2024 commitment to invest up to $1 billion in Nigeria over five years.
He said the commitment was conditional on the availability of a predictable and enabling business environment.
Bogdanovic said investments were already under way to expand manufacturing capacity at the Asejire plant in Oyo State and Challawa plant in Kano State.
The expansion is expected to increase production capacity and create additional opportunities across the local manufacturing and supply chain.
As part of the anniversary activities, the Coca Cola HBC Foundation announced a $1.25 million commitment over three years to support young Nigerian entrepreneurs in the hospitality and food service sector.
The programme will provide business grants, entrepreneurship training, support for business formalisation and mentorship.
Separately, the Coca Cola Foundation committed another $1.25 million towards more sustainable water solutions for communities in Nigeria.
The company said the initiative would complement its wider social investment activities covering youth and women empowerment, access to clean water, environmental sustainability, waste collection and recycling.
THE ISSUES
- NBC’s expansion over 75 years illustrates the scale of the company’s manufacturing and distribution footprint in Nigeria, with operations now spread across eight plants, 11 depots and 52 commercial territories.
- The reported $1 billion in value added economic activity and more than 160,000 jobs show the wider economic activity linked to the Coca Cola system beyond its direct workforce.
- The planned investment of up to $1 billion over five years places manufacturing capacity and the domestic supply chain at the centre of Coca Cola HBC’s continued operations in Nigeria.
- The company’s investment plans are tied to the availability of a predictable and enabling business environment, making the operating environment an important consideration for future expansion.
- The separate $1.25 million commitments for young entrepreneurs and water solutions extend the company’s activities beyond manufacturing into enterprise development and community infrastructure.
WHAT’S BEING SAID
“Seventy-five years ago, Nigerian Bottling Company began a journey in Lagos. Tonight, we celebrate what that journey has produced. But more importantly, we look forward to what the next chapter can bring: more investment, stronger industries, better jobs, deeper local production and greater opportunities for Nigerians.” – George Akume, Secretary to the Government of the Federation
“Seventy-five years of Nigerian Bottling Company is 75 years of growing with Nigeria. We are proud of the role we have played in creating opportunities, developing people, supporting communities and strengthening local value chains.” – Goran Sladic, Managing Director, Nigerian Bottling Company
“This is a remarkable milestone for any company. For us, it represents far more than longevity. It reflects a shared history with Nigeria, a country where Coca Cola HBC’s story began, and a history of which we are very proud.” – Zoran Bogdanovic, Chief Executive Officer, Coca Cola HBC
WHAT’S NEXT
Coca Cola HBC said it would continue advancing its five year investment commitment, including manufacturing capacity expansion at its Asejire and Challawa plants. Its foundation will also implement the three year entrepreneurship programme for young Nigerians.
BOTTOM LINE
NBC’s 75th anniversary comes with renewed investment and social commitments from the Coca Cola system. The company’s next phase will centre on manufacturing expansion, local supply chains, youth enterprise support and water solutions.
