A Steward Redqueen study finds that Coca-Cola’s Nigerian operations generated US$1 billion in value-added economic activity in 2024, with local suppliers, distributors and retailers accounting for most of the jobs supported across its value chain.
The Coca-Cola system in Nigeria supported 160,189 jobs and generated US$1 billion in value-added economic activity in 2024, according to a socioeconomic impact study conducted by global consultancy Steward Redqueen and highlighted in October 2026 following Nigerian Bottling Company’s 75th anniversary celebrations in Abuja.
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The findings point to the wider economic influence of The Coca-Cola Company and its authorised bottler, Nigerian Bottling Company (NBC), whose operations extend beyond beverage manufacturing into agriculture, retail, transportation, distribution and other services.
Of the jobs supported, 2,989 were direct positions within the Coca-Cola system, while another 157,200 were supported across its wider value chain.
The figures suggest that for every direct job, approximately 53 additional jobs were supported through associated business activities.
The study also found that the system purchased US$601 million worth of goods and services from Nigerian suppliers during the year, highlighting the role of local businesses in its production and distribution network.
Rather than measuring only the number of people employed directly by the company, the assessment considers how its activities support livelihoods among suppliers, distributors, retailers and other businesses connected to its operations.
The figures represent jobs supported across the value chain, not necessarily permanent employment contracts or positions directly held by Coca-Cola.
The report comes as Nigeria continues to seek investment that can strengthen local production, expand employment opportunities and improve economic activity amid persistent business costs and pressures on household purchasing power.
The findings also coincide with a milestone for NBC, which marked 75 years of operations in Nigeria in September 2026.
The anniversary gala took place in Abuja, with President Bola Ahmed Tinubu represented by Secretary to the Government of the Federation, Senator George Akume.
In remarks delivered on behalf of the President, Akume highlighted the contribution of the bottler to Nigeria’s industrial development and the opportunities that further investment could create.
“Seventy-five years ago, Nigerian Bottling Company began a journey in Lagos. Tonight, we celebrate what that journey has produced.
But more importantly, we look forward to what the next chapter can bring: more investment, stronger industries, better jobs, deeper local production and greater opportunities for Nigerians,” Akume said.
The anniversary also provided an opportunity for Coca-Cola HBC chief executive Zoran Bogdanovic to reaffirm the group’s commitment to the Nigerian market.
Bogdanovic said the Coca-Cola system was continuing to pursue its 2024 pledge to invest up to US$1 billion in Nigeria over five years, subject to a predictable and supportive business environment.
The planned investment is separate from the US$1 billion in value-added economic activity recorded by the study for 2024.
One represents a future investment commitment, while the other measures the estimated economic value generated across the system’s Nigerian value chain during the assessment period.
Bogdanovic said investments were already being advanced to expand manufacturing capacity at the Asejire plant in Oyo State and the Challawa plant in Kano State.
Such investments could strengthen domestic production and create further opportunities for suppliers, transport operators and other businesses, although the eventual employment impact will depend on implementation and wider market conditions.
The Coca-Cola system’s local economic footprint also extends into environmental sustainability. Its packaging collection hub in Apapa, Lagos, has the capacity to process up to 13,000 metric tonnes of plastic bottles annually.
The facility collects, sorts and recycles polyethylene terephthalate, commonly known as PET, supporting efforts to improve plastic recovery while creating opportunities within the recycling value chain.
Water stewardship is another part of the company’s regional investment programme.
The Africa Water Stewardship Initiative, announced in 2024, involves a commitment of nearly US$25 million through 2030 to address water-related challenges in communities across 20 African markets, including Nigeria.
The broader programme reflects the growing expectation that major consumer brands demonstrate their contribution to communities and the environment alongside their commercial performance.
Its impact, however, will ultimately depend on the delivery and measurable outcomes of individual projects.
While the employment and economic figures present a substantial picture of the Coca-Cola system’s reach, they should be interpreted within the scope of the study.
The reported US$1 billion represents value-added economic activity across the value chain, rather than revenue earned by the company or tax revenue paid to the Nigerian government.
The available summary also does not provide a detailed breakdown of the economic contribution by sector or state, limiting the extent to which the impact can be assessed across individual communities.
Further information on the distribution and quality of the jobs supported would help provide a more complete picture of the benefits to Nigerian households.
Nevertheless, the findings illustrate how a large consumer goods operation can influence economic activity well beyond its factories.
Through local procurement, manufacturing, distribution and retail, the Coca-Cola system supports a network of businesses whose livelihoods are connected to the movement of its products across the country.
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As NBC enters its next phase of operations, the central question will be how sustained investment translates into more productive local businesses, stronger employment opportunities and measurable benefits for communities across Nigeria.
