FCCPC indictment: Coca-Cola visits Tinubu, eyes $1bn investment in Nigeria

Coca-Cola Hellenic Bottling Company said it plans to put $1 cardinal successful Nigeria successful enlargement of its concern successful implicit 5 years.

The Chief Executive Officer of the company, Mr Zoran Bogdanovic, made this known during his sojourn to President Tinubu Bola Ahmed Tinubu.

In a connection signed by the Special Adviser to the President connected Information and Strategy, Bayo Onanuga, Coca-Cola revealed that it generates astir N300 cardinal successful revenues per twelvemonth from Nigeria and returns N90 cardinal to the authorities arsenic taxes.

“That assurance gives america the assurance to proceed our investments. Since 2013, we person invested $ 1.5 cardinal successful Nigeria successful capableness expansion, the translation of our proviso concatenation infrastructure capabilities, grooming and development.

“I americium precise pleased to denote that, with a predictable and enabling situation successful place, we program to put an further $1 cardinal implicit the adjacent 5 years. We judge Nigeria’s imaginable is tremendous, and we are committed to moving with the authorities to recognize this potential.”

The sojourn comes hardly 2 months aft the Federal Competition and Consumer Protection Commission, FCCPC accused Coca-Cola of misleading commercialized descriptions and unfair practices.