Uber Ordered to Pay $8.5 Million in Bellwether Sexual Assault Lawsuit 
Amazon Stock Rebounds After Earnings as $200B Capex Plan Sparks AI Spending Debate 
Taiwan Says Moving 40% of Semiconductor Production to the U.S. Is Impossible 
American Airlines CEO to Meet Pilots Union Amid Storm Response and Financial Concerns 
Indian Refiners Scale Back Russian Oil Imports as U.S.-India Trade Deal Advances 
Global PC Makers Eye Chinese Memory Chip Suppliers Amid Ongoing Supply Crunch 
Weight-Loss Drug Ads Take Over the Super Bowl as Pharma Embraces Direct-to-Consumer Marketing 
OpenAI Expands Enterprise AI Strategy With Major Hiring Push Ahead of New Business Offering 
Nvidia CEO Jensen Huang Says AI Investment Boom Is Just Beginning as NVDA Shares Surge 
SpaceX Pivots Toward Moon City as Musk Reframes Long-Term Space Vision 
DBS Expects Slight Dip in 2026 Net Profit After Q4 Earnings Miss on Lower Interest Margins 
Once Upon a Farm Raises Nearly $198 Million in IPO, Valued at Over $724 Million 
TrumpRx Website Launches to Offer Discounted Prescription Drugs for Cash-Paying Americans 
American Airlines CEO to Meet Pilots Union Amid Storm Response and Financial Concerns 
Prudential Financial Reports Higher Q4 Profit on Strong Underwriting and Investment Gains 
Sony Q3 Profit Jumps on Gaming and Image Sensors, Full-Year Outlook Raised 
SoftBank Shares Slide After Arm Earnings Miss Fuels Tech Stock Sell-Off 
Coca-Cola will invest $1 billion in its Nigerian operations over the next five years to enhance manufacturing and job creation, President Bola Tinubu revealed after discussions with top executives of the soft drink giant.
Coca-Cola Set to Invest $1 Billion in Nigeria, Tinubu Reveals
President Bola Tinubu and senior officials of Coca-Cola met on Thursday, and the president of the country said that the soft drink manufacturer intends to invest $1 billion in its operations in Nigeria over the next five years.
According to Reuters, Tinubu met with John Murphy, who is the president and chief financial officer of Coca-Cola, Zoran Bogdanovic, who is the CEO of Coca-Cola HBC, one of the many bottlers of Coca-Cola throughout the world, and other executives from the corporation in his efforts to entice investment into the economy.
Coca-Cola's $1.5 Billion Investment in Nigeria Since 2013
The Nigerian president's office released a statement stating that Bogdanovic informed Tinubu that Coca-Cola had spent $1.5 billion in Nigeria since 2013 on training and development, supply chain improvements, and production capacity expansion.
"I am very pleased to announce that, with a predictable and enabling environment in place, we plan to invest an additional $1 billion over the next five years," it was reported that Bogdanovic said.
Multinational Firms Like Procter & Gamble, Bayer Exit Nigerian Market
The announcement of investment follows a slew of corporate departures or distribution deals struck by multinationals during Tinubu's administration, including Procter & Gamble, GSK Plc, and Bayer AG, as reported by US News.
The government of Tinubu, which has been in power since May of last year, has stated its intention to foster an environment welcoming to enterprises.
"We are building a financial system where you can invest, re-invest, and repatriate all your dividends. I have a firm belief in that," he declared.
Nigeria's Market Potential Remains Strong Despite Investor Concerns
Many international businesses regard Nigeria as a possible market due to the country's large population (over 200 million). However, challenges with the currency, bureaucracy, and inconsistent policies deter some investors.
Coca-Cola HBC, a bottler, predicted an increase in operational profit for the year in April. The company attributed the uptick in sales to strong demand for its coffee, energy, and carbonated beverage products, which allowed it to maintain pricing increases despite rising expenses and currency devaluations in nations such as Nigeria and Egypt.
