Coca-Cola to Invest $1 Billion in Nigeria Over the Next 5 Years

Coca-Cola will invest $1 billion in Nigeria over the next five years, anticipating “significant social and economic progress” in the country. The group announced this in a press release. “Over the next five years, by creating a predictable and enabling environment, Coca-Cola plans to accelerate its investments in Nigeria to reach $1 billion,” the statement reads.
The plan was announced by the beverage giant during a meeting with President Bola Tinubu.

Coca-Cola is thus bucking the trend of several multinationals that have closed operations in Africa’s most populous nation due to a “difficult business environment” and lack of access to foreign currency.
“We are building a financial system where you can invest, reinvest and repatriate dividends,” Tinubu said in a statement.