Consumer
Coca-Cola Plans Fresh $1 Billion Nigerian Business Investment
- Beverage maker to invest the funds over the next five years
- Company bought Chi in 2016, has invested $1.5 billion
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Coca-Cola Co. plans to inject $1 billion investment in Nigeria over the next five years, motivated by ongoing reforms initiated by President Bola Tinubu’s government.
The Atlanta-based beverage maker’s investment will support businesses in the value chain including distributors, retailers and recyclers, it said in a statement. Coca-Cola, which bought a 40% stake in Nigerian juice and dairy company Chi Ltd. for $240 million in 2016, has invested $1.5 billion in Nigeria over the last decade, it said.