Nigeria: Coca-Cola Invests N436bn in Nigeria in 10 Years

Coca-Cola HBC, the parent company of the Nigerian Bottling Company (NBC) Ltd, said it has invested over a billion euros (N436.7bn) in its Nigerian operations within 10 years.

The company also announced a €1 million (N436.7m) donation to support community empowerment and social impact programmes in Nigeria.

This was disclosed by CEO of Coca-Cola NBC, Zoran Bogdanovic, at a stakeholders' reception during his visit to Lagos, Nigeria, a statement from Coca-Cola revealed yesterday.

The firm celebrated its 70th anniversary in Nigeria last week with a promise to invest more in the country.

Bogdanovic, in a statement yesterday, said, "In the last 10 years we have invested well over a billion Euros in our Nigerian operations, which has supported the expansion of production capacity, building of modern warehouses, investment in eco-friendly logistics, and above all, the creation of jobs for young Nigerians across the value chain.

"Today, we, along with the Coca-Cola Company, support over 58,000 jobs annually in the value chain in the country."

On the donation, Bogdanovic said, "The donation will be directed towards empowering youths and women and the provision of water and sanitary facilities."

The €1m fund will be deployed to support four key initiatives, including the federal government's Open Defecation-Free (ODF) status by 2025, raising the capacity of underserved youths and women in high demand skills and community recycling initiatives.

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