---
title: "Coca-Cola Plans Fresh $1 Billion Nigerian Business Investment"
description: "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."
type: "NewsArticle"
publisher: "Daily Maverick"
site: "https://www.dailymaverick.co.za"
section: "Newsdeck"
author: "Bloomberg"
author_url: "https://www.dailymaverick.co.za/author/bloomberg/"
canonical_url: "https://www.dailymaverick.co.za/article/2024-09-20-coca-cola-plans-fresh-1-billion-nigerian-business-investment/"
published: "2024-09-20T17:28:04"
updated: "2024-09-20T17:28:06"
lang: "en-ZA"
word_count: 162
---

# Coca-Cola Plans Fresh $1 Billion Nigerian Business Investment

> 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.

By Bloomberg · Published 20 September 2024, 19:28 SAST · Updated 20 September 2024, 19:28 SAST

## Content

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.

Tinubu hosted to Coca-Cola executives including President and Chief Financial Officer John Murphy on Thursday.

“We must create an environment of easy-in and easy-out for businesses. We are building a financial system where you can invest, re-invest and repatriate all your dividends,” Tinubu said then.

The investment will be welcome in Nigeria, where other US and Europe-based multinationals are exiting, citing a challenging environment. In recent months, Diageo Plc, Procter & Gamble Co. and GSK Plc have shuttered operations in the market of more than 200 million people.

Read More: [Asian, Local Firms Fill Void as Multinationals Flee Nigeria](https://www.bloomberg.com/news/articles/2024-06-18/nigeria-tolaram-locals-step-in-as-multinationals-including-diageo-gsk-exit)

© 2024 Bloomberg L.P.

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