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BUSINESS

CAPPA urges caution over Coca-Cola’s $1 billion Nigeria Investment

September 25, 2024 • 2 min read

September 25, 2024

By Samuel Ogunsona

The Corporate Accountability and Public Participation Africa (CAPPA) has raised concerns over Coca-Cola’s recently announced $1 billion investment pledge to Nigeria, questioning the company’s credibility and commitment to public health.

According to CAPPA, this is not the first time Coca-Cola has made such a promise, having previously failed to deliver on a similar commitment made three years ago to the Muhammadu Buhari administration.

“Coca-Cola’s latest investment promise is a hollow pledge aimed at whitewashing its dirty image,” said Akinbode Oluwafemi, CAPPA’s Executive Director.

“The company’s presence in Nigeria has been marked by persistent onslaught against public health and regulatory infractions.”

CAPPA cited a 2017 Lagos High Court judgment that found Coca-Cola’s products unfit for consumption due to high levels of sunset yellow and benzoic acid. Despite the court’s directive to place warning labels on its beverages, Coca-Cola has refused to comply.

Furthermore, the Federal Competition and Consumer Protection Commission (FCCPC) found Coca-Cola guilty of deceptive trade practices in July 2024, including false and harmful marketing tactics.

CAPPA warned that the government’s endorsement of Coca-Cola’s investment could undermine regulatory efforts, particularly the Sugar-Sweetened Beverages (SSBs) tax aimed at reducing non-communicable diseases.

“The Nigerian government must prioritize public health over corporate interests,” Oluwafemi emphasized.

“We urge the state to defend public health without scruples and consider genuine ethical investments that rank the well-being of Nigerians over empty promises and profit-driven deception.”

The organization called on President Bola Ahmed Tinubu’s administration to reassess its relationship with Coca-Cola and prioritize the interests of Nigerians.