The Coca-Cola System in Nigeria supported approximately 160,200 jobs across the country in 2024 and generated an estimated $1bn in value-added economic activity, according to a Socio-Economic Impact Assessment by global consultancy Steward Redqueen.

The assessment examined the economic contribution of the Coca-Cola System, comprising Coca-Cola Nigeria Limited and its authorised bottler, the Nigerian Bottling Company, using the Leontief input-output economic model.

The report found that the system supported about 160,200 jobs across its value chain, including 2,989 direct employees and more than 157,200 indirect jobs across sectors including agriculture, logistics, retail, hospitality and distribution.

It also found that every job created directly by the company supported an additional 53 jobs elsewhere in the Nigerian economy, highlighting the multiplier effect associated with its operations and supply chain activities.

The Coca-Cola System also spent about $601m annually on goods and services obtained from local suppliers, according to the assessment. The report said a significant share of the ingredients, packaging materials and other production inputs used by the system are sourced, produced and distributed locally.

This local procurement model, the study noted, has strengthened the company’s links with Nigeria’s agricultural, manufacturing and logistics sectors while creating economic opportunities for businesses and individuals across the country.

Beyond employment and local sourcing, the assessment highlighted investments by the Coca-Cola System in waste management and water stewardship.

One of the initiatives identified in the report is a packaging collection hub launched in Apapa, Lagos. The facility has the capacity to process 13,000 metric tonnes of PET plastic annually and is expected to support about 1,000 informal waste collectors.

According to the study, the facility is intended to strengthen Nigeria’s recycling ecosystem by improving plastic recovery while supporting livelihoods connected to waste collection and recycling.

The report also highlighted a $25m Africa-wide water stewardship initiative covering 20 markets, including Nigeria.

In Nigeria, communities in Borno and Imo states have benefited from projects including borehole rehabilitation, sanitation infrastructure and riverbank restoration. More than 2.6 million people have reportedly been impacted by these efforts.

Overall, the assessment said the Coca-Cola System’s contribution extends beyond beverage production to areas including employment, local procurement, environmental sustainability and community development.

The report stated that continued alignment between the company’s global expertise and local ambition would be important to expanding its impact, strengthening supply chains and converting its commercial presence into wider economic opportunities for Nigerians.

The Coca-Cola System had earlier announced plans to invest an additional $1bn in Nigeria over the next five years, subject to the availability of a predictable and enabling policy environment.

Source: Punch