The Coca-Cola System has reaffirmed its commitment to invest up to $1 billion in Nigeria over five years, with Coca-Cola HBC saying the programme is already being advanced through fresh manufacturing capacity at Nigerian Bottling Company (NBC) plants in Oyo and Kano states.
Zoran Bogdanovic, Chief Executive Officer of Coca-Cola HBC, made the disclosure on September 15, 2026, as NBC marked its 75th anniversary at a gala in Abuja. He said the system was continuing to deliver on the investment commitment announced in 2024, subject to a predictable and enabling business environment.
“We have already begun advancing that commitment through investments to expand manufacturing capacity at our Asejire Plant in Oyo State and our Challawa Plant in Kano State,” Bogdanovic said on September 15, 2026.
The investment is already translating into additional production capacity. On June 24, 2026, NBC commissioned three new production lines, two at its Asejire plant and one at Challawa. Coca-Cola HBC said the lines represented the first phase of a wider programme to add production capacity across NBC’s plants in 2026.
The $1 billion figure itself is not a new 2026 investment announcement. Coca-Cola HBC and Coca-Cola Nigeria originally announced the five-year plan on September 19, 2024, saying the Coca-Cola System would accelerate its investments in Nigeria to reach $1 billion if a predictable and enabling operating environment was maintained.
At the time of the 2024 announcement, Coca-Cola HBC said it had invested $1.5 billion in Nigeria over the previous 10 years. The new five-year programme was presented as an acceleration of the system’s investment rate in the country.
The latest expansion also comes against the backdrop of the Coca-Cola System’s wider contribution to Nigeria’s economy. A 2024 socio-economic impact study by Steward Redqueen, cited during NBC’s 75th anniversary, estimated that the system generated about $1 billion in value-added economic activity in Nigeria in 2024 and supported more than 160,000 jobs across its value chain.
The study, as reported by NBC on September 15, 2026, also found that the Coca-Cola System sourced almost $601 million worth of goods and services from Nigerian suppliers in 2024. The employment figure included nearly 3,000 direct roles and about 157,200 jobs across sectors including retail, agriculture, manufacturing, transport and services.
President Bola Tinubu, represented by Secretary to the Government of the Federation George Akume at the September 15, 2026 anniversary event, welcomed continued investment by the company and called for deeper local production, talent development and stronger domestic supply chains.
For the Coca-Cola System, the current investment programme therefore combines a previously announced five-year capital commitment with projects already being implemented across NBC’s manufacturing network. The latest capacity additions in Oyo and Kano provide a concrete indication of how the $1 billion programme is being deployed in Nigeria.
