NBC's Asejire Plant Expansion Reflects Growing Investor Confidence in Nigeria, Says Senator Enoh
The Honourable Minister of State for Industry, Senator John Owan Enoh, has described the Nigerian Bottling Company’s continued investments in Nigeria as a strong vote of confidence in the country’s economic future and industrial development agenda.
Speaking at the commissioning of the Nigerian Bottling Company’s Asejire Plant in Oyo State and the celebration of the Coca-Cola System’s 75th anniversary in Nigeria on the 24th of June, 2024, the Minister said the company’s long-standing commitment to the country demonstrates the critical role of private sector investment in driving economic growth, job creation, and industrial expansion.
Senator Enoh noted that the event was not merely the commissioning of a facility, but a celebration of a partnership that has endured for over seven decades. He commended the Nigerian Bottling Company and the wider Coca-Cola System for maintaining and expanding their operations in Nigeria despite changing economic realities.
According to the Minister, the recent expansion of production capacity at both the Asejire Plant in Oyo State and the Challawa Plant in Kano State reflects the confidence of investors in Nigeria’s industrial future.
Highlighting the company’s economic contributions, Senator Enoh disclosed that the Coca-Cola System contributes over one billion dollars in value to Nigeria’s economy and supports more than 160,000 livelihoods across its value chain. He further noted that for every direct job created within the Coca-Cola System, an additional 53 jobs are supported across various sectors of the economy, including agriculture, transportation, retail, and logistics.
The Minister also applauded the company’s commitment to local sourcing, revealing that more than $601 million has been spent on Nigerian suppliers, materials, and labour. He described these investments as evidence that the company is deeply integrated into Nigeria’s economic ecosystem and national development efforts.
Senator Enoh stated that the investments align with the objectives of the Nigeria Industrial Policy 2025, which seeks to promote local value addition, strengthen manufacturing capacity, increase competitiveness, and attract sustainable investments under the Renewed Hope Agenda of President Bola Ahmed Tinubu’s administration.
Addressing concerns raised by industry stakeholders regarding policy stability and regulatory certainty, the Minister reaffirmed the Federal Government’s commitment to maintaining a predictable business environment that encourages long-term investment and industrial growth.
As part of efforts to deepen collaboration between government and industry, Senator Enoh announced that the Federal Ministry of Industry, Trade and Investment will convene a dedicated Industry Policy Dialogue in September 2026. The engagement will bring together government officials, the Nigerian Bottling Company, and other major industry players to discuss critical issues affecting the sector.
The dialogue will focus on four key areas: improving industry competitiveness and growth, ensuring sustainable revenue generation for government, promoting consumer health and wellbeing, and creating a level playing field for responsible businesses.
He emphasised that future policy reforms would be driven through consultation and partnership with stakeholders, assuring investors that government remains committed to transparent engagement and evidence-based decision-making.
Congratulating the Nigerian Bottling Company and the Coca-Cola System on their 75-year milestone, the Minister expressed appreciation for their contribution to Nigeria’s economy, the livelihoods they support, and the communities they continue to impact across the country.
He reaffirmed the Federal Government’s commitment to building stronger partnerships with investors and creating an enabling environment that supports industrialisation, shared prosperity, and sustainable economic development.
