FCCPC Indictment: Coca-Cola Visits Tinubu, Considers $1 Billion Investment in Nigeria

Coca-Cola Hellenic Bottling Company has announced plans to invest $1 billion in Nigeria to expand its operations over more than five years.

The company’s Managing Director, 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 disclosed that it generates about N300 billion in revenue annually in Nigeria and remits N90 billion to the government as taxes.

“This assurance gives us the confidence to continue our investments. Since 2013, we have invested $1.5 billion in Nigeria in capacity expansion, transformation of our supply chain infrastructure capabilities, training and development.

“I am very pleased to announce that, given a predictable and favourable environment, we plan to invest an additional $1 billion over the next five years. We believe that Nigeria has enormous potential and we are committed to working with the government to realise it.”

The visit comes just two months after the Federal Competition and Consumer Protection Commission (FCCPC) charged Coca-Cola with misleading marketing descriptions and unfair practices.