NBC marks 75 years in Nigeria, unveils $1.25m youth fund

Nigerian Bottling Company Limited has marked 75 years of operations in Nigeria with a fresh $1.25 million commitment to support young entrepreneurs in the hospitality and food service sector.

The commitment was announced by the Chief Executive Officer of Coca-Cola HBC, Zoran Bogdanovic, at a gala held in Abuja on Monday to commemorate NBC’s 75th anniversary.

The event was attended by President Bola Tinubu, who was represented by the Secretary to the Government of the Federation, George Akume.

Representing the president, Akume commended NBC for its seven-and-a-half decades of investment in Nigeria, urging companies operating in the country to deepen local production, develop Nigerian talent and strengthen domestic supply chains.

“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.

He added that the Federal Government welcomed businesses committed to producing locally and contributing to their host communities.

NBC began production in Ebute Metta, Lagos, in 1951 and has since expanded to eight plants, 11 depots and 52 commercial territories across the country.

The company said its operations and wider value chain support activities in manufacturing, logistics, distribution, retail and other sectors, while contributing to employment, skills development and community investment.

Chairman of Coca-Cola HBC, Anastassis G. David, said the company’s decision to establish operations in Nigeria 75 years ago reflected a long-term belief in the country’s economic potential.

He recalled that Anastasios Leventis secured Coca-Cola bottling rights for Nigeria in 1951, describing the move as a bold investment in the country and its people.

“That belief echoes our own confidence in Nigeria’s future, which remains as strong today as it has ever been,” David said.

Chairperson of the NBC Board, Sola David-Borha, said the company’s longevity had been sustained by trust, consistency and sound corporate governance.

The company’s anniversary comes as a recent economic impact study by Steward Redqueen estimated that the Coca-Cola system generated about $1 billion in value-added economic activity across its Nigerian value chain in 2024.

The study also estimated that the system supported more than 160,000 jobs, comprising nearly 3,000 direct positions and about 157,200 jobs across sectors including agriculture, retail, manufacturing, transportation and services.

According to the study, the Coca-Cola system also sourced goods and services worth approximately $601 million from Nigerian suppliers in 2024.

The Managing Director of NBC, Goran Sladic, said the company’s 75-year history was inseparable from Nigeria’s own economic journey.

“Seventy-five years of Nigerian Bottling Company is 75 years of growing with Nigeria. We are proud of the role we have played in creating opportunities, developing people, supporting communities and strengthening local value chains,” Sladic said.

He added that NBC intended to build on its legacy and continue creating value in the country.

Bogdanovic also reaffirmed Coca-Cola HBC’s commitment to its previously announced investment plan of up to $1 billion in Nigeria over five years, subject to a predictable and enabling business environment.

He said the group had already begun implementing the commitment through investments aimed at expanding manufacturing capacity at the company’s Asejire Plant in Oyo State and Challawa Plant in Kano State.

According to him, the projects are expected to increase production capacity while creating additional opportunities within Nigeria’s manufacturing and supply chains.

As part of the anniversary celebrations, the Coca-Cola HBC Foundation committed $1.25 million over three years to support young Nigerian entrepreneurs in the hospitality and food service industry.

The initiative will provide business grants, entrepreneurship training, support for business formalisation and mentorship to help beneficiaries establish and grow sustainable enterprises.

“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,” Bogdanovic said.

The anniversary also highlighted other social investments by the Coca-Cola system in Nigeria, including programmes focused on youth and women empowerment, clean water access, environmental sustainability, waste collection and recycling.

The Coca-Cola Foundation has separately committed $1.25 million towards more sustainable water solutions aimed at expanding access to safe water for thousands of Nigerians.

The Chief Executive Officer of The Coca-Cola Company, Henrique Braun, said the company’s partnership with Coca-Cola HBC had enabled the system to create economic and social value in communities where it operates.

He said the foundation was supporting initiatives to improve 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,” Braun said.