Advertisement
NBC Marks 75 Years in Nigeria, Announces $1.25m Support for Young Entrepreneurs
The Nigerian Bottling Company (NBC) Ltd has marked its 75th anniversary in Nigeria with a renewed commitment to local investment, manufacturing and youth entrepreneurship, including a $1.25 million initiative to support young Nigerians in the hospitality and food service sector over the next three years.
The milestone was celebrated at a gala held at the Bola Ahmed Tinubu International Conference Centre in Abuja, bringing together government officials and senior executives of NBC, The Coca-Cola Company and Coca-Cola HBC Group.
President Bola Ahmed Tinubu, who was the special guest of honour, was represented by the Secretary to the Government of the Federation (SGF), Senator George Akume.
Delivering the President’s remarks, Akume congratulated NBC on its 75 years of operations and commended the Coca-Cola system for sustaining its investment in Nigeria.
“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,” Tinubu said.
The President reaffirmed the Federal Government’s willingness to support businesses committed to domestic production, talent development and stronger local supply chains.
“We welcome companies willing to produce in Nigeria, develop Nigerian talent, strengthen local supply chains and contribute to the communities in which they operate,” he added.
NBC, a member of the Coca-Cola HBC Group, began production in Ebute Metta, Lagos, in 1951. The company said its operations have since expanded to eight plants, 11 depots and 52 commercial territories across Nigeria, supporting economic activities in manufacturing, logistics, distribution and retail.
Reflecting on the company’s history, Chairman of Coca-Cola HBC, Anastassis G. David, recalled the decision by Anastasios Leventis to secure Coca-Cola bottling rights for Nigeria in 1951, describing it as an early demonstration of confidence in the country’s economic potential.
“In 1951, Anastasios Leventis negotiated the rights for the whole of Nigeria. It was a big, bold decision, but it was also a statement of belief. Belief in Nigeria, as a country of exceptional importance, scale and prospect,” David said.
He added that the confidence in Nigeria’s long-term prospects remained strong 75 years later.
Chairperson of the NBC Board, Sola David-Borha, attributed the company’s longevity to trust built over decades through consistency and corporate governance.
The company also cited a recent economic impact study by Steward Redqueen, which estimated that the Coca-Cola system contributed about $1 billion in value-added economic activity across its Nigerian value chain in 2024.
According to the study, the system supported more than 160,000 jobs, comprising nearly 3,000 direct roles and about 157,200 other jobs across retail, agriculture, manufacturing, transportation and services.
The study further estimated that the Coca-Cola system sourced almost $601 million worth of goods and services from Nigerian suppliers during the same year.
NBC Managing Director, Goran Sladic, said the anniversary reflected the company’s growth alongside Nigeria and its contribution to employment, human capital development and local supply chains.
“Seventy-five years of Nigerian Bottling Company is 75 years of growing with Nigeria,” Sladic said.
“We are proud of the role we have played in creating opportunities, developing people, supporting communities and strengthening local value chains. As we look to the future, our ambition is to build on that legacy and continue creating value for years to come.”
Chief Executive Officer of Coca-Cola HBC, Zoran Bogdanovic, also reaffirmed the Group’s commitment to its Nigerian operations, describing the anniversary as more than a celebration of corporate longevity.
“For us, it represents far more than longevity. It reflects a shared history with Nigeria, a country where Coca-Cola HBC’s story began, and a history of which we are very proud,” Bogdanovic said.
He said the Coca-Cola system was continuing to implement its 2024 commitment to invest up to $1 billion in Nigeria over five years, subject to a predictable and enabling business environment.
According to him, investments have already commenced to expand manufacturing capacity at the Asejire Plant in Oyo State and Challawa Plant in Kano State.
The projects are expected to increase production capacity and generate further opportunities across Nigeria’s manufacturing and supply ecosystem.
Bogdanovic also announced that the Coca-Cola HBC Foundation would commit $1.25 million over three years to support young Nigerian entrepreneurs operating in the hospitality and food service sector.
The programme will provide business grants, entrepreneurship training, support for business formalisation and dedicated mentorship.
“Through this initiative, we hope to help create new opportunities for young entrepreneurs and support the long-term growth of Nigeria’s hospitality and food service sector,” he said.
The company said the initiative would complement its existing social investments in youth and women’s empowerment, access to clean water, environmental sustainability, waste collection and recycling.
Separately, The Coca-Cola Foundation has committed another $1.25 million towards more sustainable water solutions for thousands of Nigerians.
Chief Executive Officer of The Coca-Cola Company, Henrique Braun, said the partnership between the company and its bottling partners had enabled the Coca-Cola system to combine commercial operations with community investment.
“One of the Coca-Cola system’s greatest strengths is how we work together with our bottling partners to create value for the communities we serve,” Braun said.
He added that The Coca-Cola Foundation was supporting efforts to expand access to safe water in Lagos and Abuja.
“As NBC marks 75 years, we’re proud to celebrate this milestone and continue growing with Nigeria,” he said.
By PRNigeria
