Coca-Cola to invest N560bn for operation expansion in Nigeria
By Uthman Salami
The Managing Directors, Nigerian Bottling Company (NBC) and Coca-Cola Nigeria Limited, Matthiue Sanguin and Alfred Olajide have disclosed that the bottling giant and Coca-Cola will be making a whooping investment of over N560 billion as additional business commitment for its operations in Nigeria.
Sanguin made this revelation at an event marking the celebration of 70 years of NBC and Coke in Nigeria market.
While speaking about the plans of the NBC, the Managing Director, Sanguin said that its firm will be “investing an additional N560 billion or $1b in our operations in Nigeria.”
With that additional investment, Sanguin explained that the capital will further aid NBC to improve as well as expand its operations and service within the country
He said, “With the additional capital injection, we are set to expand the capacity of our manufacturing plants in other parts of the country, to mirror the scope of operations at our Ikeja plant. This will ensure that all our product types and packaging options will be within even closer reach to all our consumers.
“We are also proud contributors to the growth of the Nigerian Economy. From 2007 till date, we have invested $1.7 billion invested in the country, for the expansion of our production capacity, building of modern warehouses, investment in eco-friendly logistics and above all, creation of jobs for teeming Nigerian youths across the value chain.
On the creation thousands of jobs and further investement in 14 years, he asserted that “We are also proud contributors to the growth of the Nigerian Economy. From 2007 till date, we have invested $1.7 billion invested in the country, for the expansion of our production capacity, building of modern warehouses, investment in eco-friendly logistics and above all, creation of jobs for teeming Nigerian youths across the value chain. In the last five years, we supported the creation of 58,000 jobs along our value chain, aside many other jobs we have outsourced.”
On his part, the Managing Director, Coca-Cola Nigeria Limited, Mr Alfred Olajide while reeling out the programme of event to celebrate the great milestone said, “This celebration not only gives us an opportunity to look back at the brand’s storied history in Nigeria but is also an opportunity to highlight our plans for the future.”
“This milestone anniversary is a testament to the possibilities and shared opportunities we have created in this great country,” he added.
Reiterating the commitment of Coca-Cola to Nigeria and Nigerians via its investment and Corporate Social Responsibility, Olajide emphasised that, “As we prepare for more decades of excellence and enriching moments, I believe that there are opportunities for us to learn more, listen more, and continue to tailor our beverage solutions, to provide our consumers the brands they love at the different phases of their lives, done sustainably for a better shared future.
“70 years in Nigeria means we know the markets, the cultural sensitivities and the customer-base that supports us – and we are here to stay.”
While corroborating Sanguin on the $1 billion, the Managing Director, Coca-Cola Nigeria Limited said “We are accelerating investments and growing our scale through new, exciting businesses and opportunities. Over the last 5 years, we have invested over 665.4 million USD and will in the next 5 years invest another N560 billion ($1b) in our operations in Nigeria.”
Olajide emphasised that “We want to create a shared opportunity in Nigeria for more sustainable and inclusive growth.”
