Coca-Cola Hellenic Bottling Company said it plans to invest $1 billion in Nigeria in expansion of its business in over five years.
The Chief Executive Officer of the company, Mr Zoran Bogdanovic, made this known during his visit to President Tinubu Bola Ahmed Tinubu.
In a statement signed by the Special Adviser to the President on Information and Strategy, Bayo Onanuga, Coca-Cola revealed that it generates around N300 billion in revenues per year from Nigeria and returns N90 billion to the government as taxes.
“That assurance gives us the confidence to continue our investments. Since 2013, we have invested $ 1.5 billion in Nigeria in capacity expansion, the 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 realize this potential.”
The visit comes barely two months after the Federal Competition and Consumer Protection Commission, FCCPC accused Coca-Cola of misleading trade descriptions and unfair practices.
FCCPC indictment: Coca-Cola visits Tinubu, eyes $1bn investment in Nigeria
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