Coca-Cola impacts Nigerian economy with $1bn, 160,000 jobs – Reports

The Coca-Cola system in Nigeria has announced the results of a comprehensive socio-economic impact study, conducted by global consulting firm Steward Redqueen, following its Coca-Cola’s 75th Anniversary Gala celebrated recently in Abuja.

It stated that the independent study highlighted the scale of the Coca-Cola system’s contribution to Nigeria’s economy, employment, and communities.

The study reveals that the Coca-Cola system in Nigeria – comprising The Coca-Cola Company and its authorised bottler, Nigerian Bottling Company– alongside a broad network of local suppliers, distributors, and retailers, contributed $1 billion in value-added economic activity in 2024.

The report also quoted that across its value chain, the Coca-Cola system supported over 160,000 jobs, including nearly 3,000 direct jobs within the system and an additional 157,200 jobs supported through suppliers, partners, and customers. This means that for every direct job created by the system, 53 more jobs were supported across Nigeria’s economy.

The study also highlights the Coca-Cola system’s strong local integration, with $601 million worth of goods and services sourced from suppliers in Nigeria in 2024. This local procurement supports industries as diverse as sugar production, packaging, transportation, and marketing, reinforcing the Coca-Cola’s system role as a partner for growth in Nigeria’s economic development.

Read also: Coca-Cola at 75: When a brand turns its history into a soundtrack

The Coca-Cola system has strengthened its footprint in Nigeria through sustained investment and innovation, including the opening of a new packaging collection hub in Apapa, Lagos in line with its sustainability agenda. The facility is a key part of Nigeria’s plastic recycling infrastructure and can process up to 13,000 metric tonnes of plastic bottles annually. The initiative aims to reduce plastic waste by collecting, sorting, and recycling PET plastics. It also supports local communities by creating jobs.

The Coca-Cola system’s contribution extends beyond economic impact. Nigeria is one of the beneficiaries of the Africa Water Stewardship Initiative, a nearly $25 million investment through 2030 to help address critical water-related challenges in local communities in 20 African markets, including Nigeria.

The study conducted by Steward Redqueen measured the direct, indirect, and induced economic impacts of the Coca-Cola system in Nigeria, combining company operational data with trusted third-party economic sources.

The analysis demonstrates how Coca-Cola’s local operations ripple across the economy – from farmers growing sugarcane to retailers selling beverages – creating jobs, generating income, and building opportunities.